Tunisia's Ministry of Finance has published terms of reference for selecting directors to represent the state and public shareholders on public bank boards as part of their reconstitution. The planned call for candidates requires screening for professional expertise, integrity and conflicts of interest. Appointments require central bank consent, while mandate renewals depend on performance.
Candidates must be Tunisian citizens with a university qualification equivalent to at least four years of study after secondary school and at least 10 years of professional experience. Relevant expertise includes finance, governance, risk management, and banking systems and operations. Eligibility requires compliance with tax and social security obligations and the absence of specified criminal or regulatory disqualifications. Candidates cannot hold direct or indirect stakes in public banks or work for a bank or other financial institution. Specified family and business ties to the bank are also prohibited. Candidates holding board positions at another bank or another entity with public shareholdings must undertake to relinquish them upon appointment.
Assessment of qualifications and experience accounts for 70% of the final selection score, with interviews contributing 30%. Appointments require ordinary general meeting approval and are made by order of the finance minister after consent from the Central Bank of Tunisia. Selected candidates must sign a directors' charter before appointment. The charter requires reports to the supervisory authority within 10 days of each board meeting and an annual report within one month of the end of the financial year. Renewal depends on an assessment of performance during the first mandate.