The first “regulatory sandbox,” a device that enables fintechs to provide test financial services, has been introduced by the Central Bank of Tunisia.
The BCT made the decision to repeat this experience a little over three years later, but this time with more “traditional” financial institutions.
The BCT Governor, Marouen Abassi, made the announcement yesterday while taking part in the Annual Days of the Club of African Bank and Credit Institution Managers in Tunis. The “express sandbox” would be aimed towards local banks.
Banks will be able to test and launch their digital solutions through this programme in order to assure compliance with various requirements. This framework gives the BCT the chance to check the dependability of these solutions before making them available to customers.
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The central banker reaffirmed that this programme is in line with the BCT’s orientation to support “the means and systems of payment as a lever for inclusion and financial stability.”
Sandbox Tunisia
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard