Introduction to Foreign Currency Operations

This functionality enables banks to handle the foreign currency operations based on the currency guidelines set by the government and (CBT) Central Bank of Tunisia. The foreign currency operations are processed within the authorized limits granted by CBT and set by banks in addition to managing and tracking their usage.

Click here to understand the terms and abbreviations used in this module.

Foreign Currency Limit Management and Sub Delegation

Operations leading to foreign currency activities such as import or export documentary credits, import or export documentary collections, bank or client letter of guarantees, commercial transfers, in addition to incoming and outgoing transfers have to be aligned with the regulations set by CBT.

When a Tunisian citizen enters Tunisia with foreign currency, it is required to declare the amount with customs. In turn, customs will provide a declaration document. The customer will be able to exchange foreign currencies in the bank only with the declaration document provided by customs.

Banks have to be able to process backdated foreign exchange transactions with FX rates from the corresponding past dates.

When a customer wishes to get a foreign currency bank note using the AVA contract, the system will check the travel allowance amount in the AVA contract.

The following applications and versions are introduced for this functionality:

The TNFCOP.FOREX.PARAM,AGENCY.INPUT version allows the banks to configure the FX transaction parameter.
The TNFCOP.DECLARATION.DETAILS application is provided to capture the FX declaration details, based on the custom document.
The TNFCOP.DECLARATION.DETAILS,INPUT version allows banks to create the declaration details for a customer.
The TNBASE.CNBP.CODES application allows banks to store the CNBP codes and to set if the declaration is required or not during a teller transaction.
The TNFCOP.CNBP.CODES,INPUT version allows banks to input the CNBP codes.
The TNBASE.DECLARATION.BALANCE live application is provided to store the available amount and the utilized amount for the declaration.
The TELLER,FCY.DEPOSIT version allows banks to record a deposit of foreign currency into local currency or foreign currency customer’s account.
The TELLER,FCY.CASH version allows banks to perform a foreign currency exchange with local currency or with another foreign currency.
The TELLER,SUB.DELEGATION version allows banks to input the sub delegated transactions.
The Initiator Customer Id field is provided in the TELLER application to allow the user to capture the initiator customer id. This id will be used to check if the initiator of the transaction is a valid beneficiary of declaration.
The Declaration Id field is provided in the TELLER application to allow the user to capture the FX declaration id, during a foreign currency exchange transaction.
The TNFCOP.UNAUTHORIZED.DECLARATIONS enquiry is provided to list the unauthorised declarations and authorise them.
The TELLER,AVA.FCY.BUY version is provided to hold the foreign currency bank note used to buy the AVA contract. This is auto populated with the Teller Transaction Code.

Business Travel Allowance

This functionality allows users to open, amend and renew business travel allowances (AVA) files. It also allows the manual renewal, suspension and closure of the AVA records.

To promote trade and commerce, and increase the inflow of foreign currency into the country, the central bank of Tunisia (CBT) provides an allowance for the following business travels:

Exporter.
Other activities.
Foreign market.

The business travel allowance (AVA) consists of transfer rights in dinars, fixed according to the type of AVA, to exclusively cover the costs of stay, such as hotel, catering and travel costs within the country of destination abroad related to the professional travel of its holder as well as to its employees in the context of their professional activity.

In true sense, it is a kind of limit provided by CBT for travel expenditure outside Tunisia.

The following applications and enquiries are introduced with this functionality:

The TNFCOP.AVA.ALLOWANCE application is introduced, which has several versions to perform various activities such as opening an AVA record, amendment, use and supply, manual renewal and closure suspension.
The TNFCOP.FOREX.PARAM application is introduced to define the ceilings and percentages for the respective business type. The TNFCOP.FOREX.PARAM application facilitates the calculation of the Eligible Limit Amount. This is a prerequisite setup before creating an AVA record.
The TNFCOP.AVA.ACTIVITY.CODE application provides a dropdown which will determine the activity codes to the repository of Tunisian activities.
The TNFCOP.BRANCH.CHECKER enquiry lists the records with the application status as INAU and the Record Status as blank in the AVA opening version.
The TNFCOP.REGULATORY.MAKER.OPENING enquiry lists the authorised records from the branch which are related to the opening.
The TNFCOP.REGULATORY.MAKER.AMENDMENT enquiry lists the authorised records from the branch which are related to the amendment.
The TNFCOP.REGULATORY.MAKER.RENEWAL enquiry lists the authorized records from the branch which are related to the renewal.
The TNFCOP.REGULATORY.CHECKER enquiry lists the records with the application status as INAU, and the Record Status as Awaiting Final Regulatory Approval.
The TNFCOP.BRANCH.MAKER.OPENING.REJECT enquiry lists all the opening records that have been rejected by the regulatory checker.
The TNFCOP.BRANCH.MAKER.AMENDMENT.REJECT enquiry lists all the amendment records that have been rejected by the regulatory checker.
The TNFCOP.BRANCH.MAKER.RENEWAL.REJECT enquiry lists all the renewal records that have been rejected by the regulatory checker.
The TNFCOP.AVA.ALLOWANCE.DETAILS enquiry lists the authorised AVA details.
The TNFCOP.AVA.USE.SUPPLY.UNAUTH enquiry is used to authorise or delete the INAU records for the usage and supply.
The TNFCOP.AVA.CLOSURE.SUSP.UNAUTH enquiry is used to authorise or delete the INAU records for suspension and closure.

New fields are introduced in the TNFCOP.AVA.ALLOWANCE application that hold information about the charges.

New versions of the TNFCOP.AVA.ALLOWANCE application are introduced to hold details of the branch users for opening, amendment and manual renewal.

The beneficiary can be configured using the RELATION and CUSTOMER applications, and the Relation is parameterised in the TNFCOP.FOREX.PARAM application.

Of the AVA activities, only the usage and supply can be reversed subject to validation.

F1 or F2 Authorization Request

In Tunisia, there is a regulation to submit different forms for fund transferred to foreign countries and for prohibited transactions. The form has to be submitted to the Central Bank and it has to be approved.

F1 sheet is a form submitted to the Central Bank to get the authorization to perform the prohibited transfers. F2 sheet is a form submitted to the Central Bank to get the authorization to perform the prohibited transactions. F1 sheet has to be submitted for fund related outgoing transfer and F2 sheet has to be submitted for commercial transactions like LC, LG, loan etc., for prohibited transactions.

This functionality is created to store the details of the F1 or F2 sheet, which has to be sent to the Central Bank for the authorisation to proceed for the prohibited transactions.

The following applications, versions and enquiries are introduced as part of this functionality:

The TNFCOP.FORM.APPLICATION application is introduced to store the information from the customer and update it in Temenos Transact for the F1 or F2 applications. If an amendment is required, it needs to be done by the branch and the regulatory control and they need to update the additional information requested by CBT or regulatory control.
Banks can create F1 or F2 sheets using the TNFCOP.FORM.APPLICATION,DOMICILIATION version.
Using the TNFCOP.FORM.APPLICATION,AMEND version, banks can amend the details of the F1 or F2 sheet by adding additional information.
The TNFCOP.FORM.APPLICATION,RESUB application is used to resubmit the F1 or F2 applications in case of any changes required.
The TNFCOP.FORM.APPLICATION,DECISION.UPDATE applications is used by the Regulatory Control Team to update the status of the application.
The TNFCOP.FORM.APPLICATION,RES.F1F2 version is used to manually update the reservation of the forms.
The TNFCOP.FORM.APPLICATION, SETT.F1F2 version is used to manually update the settlement of the forms.
The TNFCOP.FORM.APPLICATION,CANCEL version is used to cancel the F1 or F2 sheet created and submitted to the Central Bank.
The TNFCOP.REPORT.STATUS enquiry is used to fetch the status of the form and prepare excel file or PDF file which has to be shared with Central Bank.

The AC.CHARGE.REQUEST application is used for charging.

Charges are converted to the local currency using the mid-rate if the account is in foreign currency. If the account is closed or invalid, then the charges will not be processed.

The F1 or F2 Authorization Request functionality has the following benefits:

Ability to create the F1/F2 sheet in Temenos Transact.
Ability to amend the F1/F2 sheet created in Temenos Transact
Ability to update the status received from Central Bank.
Ability to cancel the F1/F2 sheet created in Temenos Transact.

Information Sheet

There is a practice in Tunisia to produce the information sheet by the residents to the Central Bank of Tunisia, to do the non-prohibited transactions in the foreign currency other than goods. The information sheet is submitted by the residents to the Central Bank of Tunisia, through the bank, and once the information sheet is approved, the transaction in the foreign currency can be initiated.

The information sheet is the procedure of communication to the Central Bank of Tunisia by the accredited intermediaries of the data related to the transfer operations whose realization gives rise to the establishment of the said sheet.

This functionality enables banks to create the information sheet for making any payments in foreign currency and report to the Central Bank of Tunisia for the services opted by the customer. The information sheet has to be submitted to the Central Bank of Tunisia, by the bank where it is created and, once the information sheet is approved, the transaction in the foreign currency can be initiated. The generated report containing the details of the information sheet is a txt format.

The following applications, versions and enquiries are introduced as part of this functionality:

The TNFCOP.INFO.SHEET application allows banks to store the application details of the information sheet, which has to be approved by the bank and to be reported to the Central Bank of Tunisia.
The TNBASE.FINANCIAL.DETAILS application is introduced to store the details of the total utilised amount and reserved amount for the information sheet.
The TNFCOP.INFO.SHEET,BRANCH (Information Sheet for Branch) version allows banks to create the information sheet at the branch level.
The TNFCOP.INFO.SHEET,REGULATORY (Information Sheet for Regulatory) version allows the regulatory control team to update the rest of the details added at the branch level and approve them.
The TNFCOP.INFO.SHEET,AMEND (Information Sheet for Amend) version allows banks to amend the details provided in the information sheet.
The TNFCOP.INFO.SHEET,STATUS (Information Sheet for Status) version allows banks to update the status of the information sheet, for regenerating the report which was rejected by CBT.
The TNFCOP.INFO.SHEET,RESERVE (Information Sheet For Reservation) version allows banks to perform a manual reservation on the information sheet.
The TNFCOP.INFO.SHEET,SETT (Information Sheet For Settlement) version allows banks to manually update the settlement details for the information sheet.
The TNFCOP.INFO.SHEET,CANCEL (Information Sheet For Cancel) version allows banks to cancel an information sheet.
The TNFCOP.INFO.REPORT application allows banks to store the period for which the information sheet needs to be generated.
The TNFCOP.INFO.REPORT,GENERATE (Generate New Report) version allows banks to define the range date for which the report will be extracted.
The TNFCOP.INFO.REPORT,REGENERATE (Regenerate Report) version allows banks to define the range date for which the report will be regenerated.
The TNFCOP.INFO.SHEET.DETAILS (Information Sheet for Regulatory) enquiry allows the regulatory control team to access the TNFCOP.INFO.SHEET,REGULATORY (Information Sheet for Regulatory) version, to update the information sheet. This version is attached as a drill-down version in TNFCOP.INFO.SHEET.DETAILS enquiry.
The TNFCOP.AMEND.INFO.SHEET (Information Sheet for Amend) enquiry allows the banks to access the TNFCOP.INFO.SHEET,AMEND (Information Sheet for Amend) version, to amend the information sheet. This version is attached as a drill-down version in TNFCOP.AMEND.INFO.SHEET enquiry.
The TNFCOP.INFO.SHEET.STATUS (Information Sheet Status) enquiry lists the entries for a selected status of the information sheet. The regulatory control team can access the TNFCOP.INFO.SHEET,REGULATORY (Information Sheet for Regulatory) version, which is attached as a drill-down version in this enquiry.
The TNFCOP.ADDITIONAL.INFO.SHEET (Information Sheet for Additional Information) enquiry lists the entries of the information sheet for a provided status by the branch user. This enquiry allows the branch user to access the TNFCOP.INFO.SHEET,BRANCH (Information Sheet for Branch) version, to update the additional information asked by the regulatory control team. This version is attached as a drill-down version in TNFCOP.ADDITIONAL.INFO.SHEET enquiry.
The TNFCOP.SERVICE.REQUEST enquiry allows the branch user to access the TNFCOP.INFO.REPORT,GENERATE (Generate New Report) and TNFCOP.INFO.REPORT,REGENERATE (Regenerate Report) versions.

Foreign Trade Title TCE

In Tunisia, there is a regulation to create a foreign trade title for any goods trade between residents and non-residents. The foreign trade title is a document that has to be created in the government application TTN when the company or the person wants to enter into a foreign trade, which is non-transferable. The foreign trade title is domiciled by the local bank, who acts like an intermediary between Central Bank and the customer. The bank has to report the foreign trade titles to the Central Bank. The foreign trade titles are created in the application called TTN, which is maintained by the Ministry of Trade.

The customer, importer or exporter, has to approach the approved intermediary bank to get the foreign trade title domiciled, only then the other trade finance operations like letter of credit, letter of guarantee etc., can be processed.

The details related to the trade are created in the TTN interface and reported to the central bank through the intermediary bank.

This functionality allows the user to receive and store the foreign trade title information from the TTN (Tunisie Trade Net) interface, as well as amend and cancel the trade title. Information related to customs imputation can also be stored.

The following applications and enquiries are introduced with this functionality.

The TNFCOP.FOREIGN.TRADE.TITLE application is introduced to store the foreign trade title details received from the TTN interface. Several versions of the application are provided to enable the domiciliation, customs imputation, amendment and cancellation of a foreign trade title.
The TNFCOP.AMEND.CANCEL.TITLE enquiry is introduced to fetch the details of the foreign trade title details, which are received from the TTN interface and domiciled.
The TNFCOP.TITLE.DOMICILIATION enquiry is provided to view the trade titles which are flown into Temenos Transact from the TTN interface.
The TNFCOP.TITLE.IMPUTATION enquiry is used to fetch the list of trade titles.
The TNFCOP.IMPUTATION.ALL.NGP enquiry is provided to view the customs imputation for all NGP codes, which are flown into Temenos Transact from the TTN interface or customs.
The TNFCOP.TITLE.DOMICIL.AMOUNT enquiry is provided to view the various amounts of a trade title, which are flown into Temenos Transact from the TTN interface or customs.

Foreign Trade Title Clearance - TCE Clearance

This functionality allows banks to send reports to the Central Bank of Tunisia regarding foreign trade titles. It also allows the update of the imputation, settlement and reservations manually.

The following applications and enquiries are introduces with this functionality:

The TNFCOP.FOREIGN.TRADE.TITLE application is introduced to receive and store the data from the TTN (Tunisie Trade Net) interface.
The TNBASE.FINANCIAL.DETAILS application is introduced to receive and store the data received from other applications, and through the manual update.
The TNFCOP.FOREX.PARAMETER application is introduced to store the default values which are required for trade title operations and for generating the Central Bank report.
The TNFCOP.TRADE.TITLE.REPORT application is introduced to store the report details which are required to generate the Central Bank report.
The TNFCOP.TRADE.TITLE.NOTCELARED application is introduced to store the trade titles which are not cleared during the clearance process which runs on month end, while updating the CBT (Central Bank of Tunisia) indicator.
The TNFCOP.AMEND.MANUAL.UPDATE enquiry is introduced to fetch the details of the foreign trade title details, received from TTN and domiciled.
The TNFCOP.AMEND.MANUAL.SETTLEMENT enquiry is created to fetch the details of the foreign trade title details, which are all not cleared, received from TTN and domiciled.
The TNFCOP.AMEND.MANUAL.RESERVE enquiry is created to fetch the details of the foreign trade title details, which are all not cleared, that are received from TTN and domiciled.
The TNFCOP.STATUS.TRADE.TITLE enquiry is created to fetch the trade titles based on the approved reporting status.
The TNFCOP.CLEARANCE.STATUS enquiry is built to fetch the details of the trade titles which are cleared or not cleared as on date based on the clearance month.

Schooling Professional Training File

In Tunisia, there is a practice to produce the schooling professional training file which will be used to make the payments for expenses, fees and other expenses for the schooling or training in foreign countries. The schooling professional training file has to be reported to the Central Bank every month.

This functionality allows banks to manage the schooling professional training file (capture, amend, renew, release, close and export).

The following applications and enquiries are introduced as part of this functionality:

The TNFCOP.FOREX.PARAM,SCHOOL.PROF.INPUT version is used to set the maximum allowed limit for the monthly expenses and other expenses.
The TNFCOP.SCHOOL.PROF.FILE application is used to create the schooling professional training file.
The TNFCOP.SCHOOL.PROF.FILE,BRANCH version is used by the branch user to input the details of the schooling professional training file.
The TNBASE.FINANCIAL.DETAILS application is used to store the used details of the schooling professional training file requested by the customer.
The TNFCOP.SCHOOL.PROF.FILE.DETAILS enquiry is created to view the schooling professional training file which is created by the branch and which has to be reviewed by regulatory control to be approved or rejected.
The TNFCOP.SCHOOL.PROF.FILE,REGULATORY version is used to review the schooling professional training file at the regulatory control level to approve or reject it.
The TNFCOP.SCHOOL.PROF.FILE,AMEND version is used to amend the schooling professional training file at the branch level.
The TNFCOP.SCHOOL.PROF.FILE,REG.AMEND version is used to amend the schooling professional training file at the regulatory level.
The TNFCOP.SCHOOL.PROF.FILE,RENEW version is used to renew the schooling professional training file, if the course is getting extended.
The TNFCOP.SCHOOL.PROF.FILE,SUSPRELEASE version is used to update the release of suspension of the schooling professional training file.
The TNFCOP.SCHOOL.PROF.FILE,CLOSURE version is used to change the status of the schooling professional training file to closed.
The TNFCOP.FILE.REPORT enquiry is used to fetch the status of the schooling professional training file and prepare an excel or PDF file which has to be shared with the Central Bank.
The TNFCOP.FILE.STATUS enquiry is used to view the details of the schooling professional training file.
The TNBASE.SCHOOLING.USAGE enquiry is used to view the details of the usage of the schooling professional training file.

The FUNDS.TRANSFER application is used to collect the charges.

The FT.COMMISSION.TYPE application is used to store the charge and the tax amount.

Incoming Transfers

The Tunisian regulations entail capturing additional regulatory information with respect to the incoming transfers associated with a foreign trade title or business travel allowance. With respect to the foreign trade title, the regulatory information captured varies based on whether the title is domiciliated at our bank or an external bank (local bank). The incoming transfer is allowed to be completed as long as the amount of incoming transfer is less than the available amount in the foreign trade title. With respect to business travel allowance (AVA), it is required to increment the available amount based on the AVA transfer right, which is 25% of the remitted amount as per current regulations.

This functionality allows banks to capture the regulatory information for incoming payments in foreign currency. The incoming payments in foreign currency are either associated with one or multiple titles or business travel allowance.

The TNFCOP.INC.TRANSFER.REPAIR enquiry allows the user to add the regulatory information in the incoming transfers where the transaction currency is different from the credit account currency. The PP.ORDER.ENTRY, TNFCOM.INC.TRANSFER.INP version is linked the Edit and View buttons of the enquiry. The PP.ORDER.ENTRY, TNFCOM.INC.TRANSFER.INP version is introduced to create incoming payments in foreign currency.

Outgoing Transfers

Outward transactions are highly regulated in Tunisia. Any transfer of funds requires approval from the regulatory authorities, including the Central Bank. The purpose of the outgoing transfer can be towards schooling fees or trade import and export transactions or towards any other transaction that is prohibited without approval from the Central Bank in Tunisia.

While initiating such payments, various validations on the underlying title document are performed by Temenos Transact and if successful, the payments are processed accordingly.

This functionality allows bank users to initiate outward transfers only for those transactions that can be initiated with the approval from the Central Bank of Tunisia. Further, the payments are processed only when the underlying title document is validated successfully. The payment transactions are allowed only up to the approved limit as available for the title document. Also, Temenos Transact allows banks to auto generate the information sheet on the successful completion of the schooling payments.

The following items are introduced as part of this functionality:

The STANDING.ORDER,TNFCOP.INPUT version is used to input the permanent transfer setup.
The STANDING.ORDER,TNFCOP.AUTH version is used to authorise the permanent transfer setup.
The STANDING.ORDER,TNFCOP.AMEND version is used to amend the permanent transfer setup.
The PAYMENT.ORDER,TNFCOP.OFS.INPUT version is used for processing permanent transfers for Tunisia.
The Title Sheet Ref, Cust Ident Type, Payment Mode, and Ft Reference fields are added to the TNFCOP.INFO.SHEET application to capture the payment related information for the underlying school or professional file reference for which a payment was initiated.
The Carry Fwd Used Amt field is added to the TNBASE.FINANCIAL.DETAILS application to carry forward the used amount.
The Expense Type field is added to the TNBASE.CNBP.CODES application to indicate if the indicated BP code relates to the registration fees or other expenses, living expenses, etc.
The Trf Eligible field is added to the TNFCOP.FOREIGN.TRADE.TITLE, TNFCOP.FORM.APPLICATION, and TNFCOP.INFO.SHEET applications to identify if the indicated title code is eligible for transfer.

Export Documentary Credit

This functionality allows banks to link the EDC (Export Documentary Credit) settlements with the underlying TCE (Foreign Trade Title) and AVA (Business Travel Allowance) records so that the payments will be processed accordingly, irrespective of the fact that TCE or/and AVA is domiciled in the bank or not. The system will perform various validations to ensure that the EDC payment is allowed to be created only if the available amount is greater than the payment amount, in the case of TCE.

The following items are introduced as part of this functionality:

The DRAWINGS.EXPAC.TN version is used to view and amend the documents pending for acceptance under export LC.
The DRAWINGS.EXMXPYMT.TN version is used to view and amend the export LC’s pending for payment and acceptances under mixed drawings.
The DRAWINGS.EXPMAT.TN version is used to view and amend the accepted documents under export LC.
The DRAWINGS,EXMXAMD.TN version is used to view and amend the mixed drawings.
The DRAWINGS.PAYRES.TN version is used to view and amend the pay under reserve, approval or collection records.
The DRAWINGS.EXSPRES.TN version is used to view and amend the payment of sight bill paid under reserve records.
The DRAWINGS,EXPSP.TN version is used for doing sight payment, view and amend the export LC’s documents pending payment for an Export LC.

The Title Code, Title or AVA Number, Domiciliation Date, Amount to be Settled, Nature of BOP, Country of BOP, and Origin of Funds fields are added to the versions above to link and capture the TCE and AVA details. Based on the credit customer if Active AVA is present for business type exporter then the 1st multi-value will be automatically defaulted with the AVA reference number. For TCE if the retrieval conditions are satisfied then the TCE reference will be available in the dropdown and has to be manually selected.

The Sett Trans Ref, Sett Amt, Sett Date, Auto Sett Ind, Sett Trans Ccy fields are added to the TNFCOP.FOREIGN.TRADE.TITLE application to update the TCE details.

The benefits of this functionality are:

An EDC can be associated with one or more than one foreign trade title (TCE).
An EDC can be associated with only one business travel allowance (AVA).
There can be an EDC that is not associated with either TCE or AVA or both, system will throw a warning message in such a scenario.
The total sum of all the Amount to be settled that has been linked is equal to the Drawings Amount or else system will throw a warning message.
An EDC can be associated with more than one foreign trade title and other codes 65, 91, 59, 77, 99, 29, 82, 24, 77.
An EDC can be associated with more than one foreign trade title, some domiciled with the bank and others with the local bank.

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