The commercial paper is a negotiable interest debt product issued by a credit establishment, it is an exchange of liquidity between companies and individuals, which can only takes place through the intermediary of a bank using debt securities registered denominated treasury notes.

The bank behaves as an indispensable intermediary (guarantor) between the lender and borrower.

Characteristics 

The Commercial paper must:

·         Be registered in accounts with a credit institution on behalf of the subscriber.

·         Be registered and issued Pair.

·         Have multiple nominal minimum amount of fifty thousand dinars.

·         Have a fixed maturity

·         Be subject to a fixed fee rate freely determined at issuance.

The Commercial paper has minimum a 10-day period and a maximum of 5 years (this period must be in multiple s of 10 days, months or years).

Interest is payable in advance and is subject to withholding tax at the rate in force.