Presentation

The new decree-law n ° 2011-117 of November 5, 2011 on the organization of the activity of microfinance institutions, allows for the first time, public limited companies to grant microcredit. These companies must have a minimum capital of 3 million dinars. Article 58 of this decree-law allows microcredit associations (AMC) to continue operating on condition of complying with the provisions of this decree-law including in particular to constitute a minimum endowment of 200 thousand dinars reduced to 50 thousand dinars by Law No. 2014-46 of July 24, 2014 amending Decree-law No. 2011-117 of November 5, 2011, organizing the activity of microfinance institutions.

The new decree-law gives the possibility for a microfinance institution (MFI) to diversify its products by offering micro insurance. Also, the text creates a supervisory authority (ACM) whose main mission is the supervision of microfinance institutions (MFIs). Decree No. 2012-2128 of September 28, 2012 sets the operating procedures for the Microfinance Supervisory Authority.

Finally, the new regulations have brought changes to the microcredit ceiling and the conditions for granting it. The ceiling is set at 10 .000 dinars for associations and 40.000 dinars for microfinance institutions (MFIs) having the status of Public Limited Company. For loans granted for the improvement of living conditions, the ceiling is 2.000 dinars for associations and 6.000 dinars for Public Limited Companies.