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Algeria's central bank to bail out banks
The Central Bank of Algeria has announced plans to inject cash in the financial system from February to bail out banks, which have seen their resources dip significantly in 2015.The financial system...
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The Maghreb Bank for Investment and Foreign Trade officially launched
The official launch of the Maghreb Bank for Investment and Foreign Trade (BMICE) was held on December 21st in Tunis.The project, discussed for the first time in the 1990s, has been delayed several...
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Algeria: The GIE unveils payment card boost in 2016
Algeria will generalise the use of electronic payment cards in 2016, said Mouatassem Boudiaf, chief executive of the electronic banking division at the Economic Interest Group (GIE).He said that the...
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Private Equity investment reaches $5.3 billion in North Africa
North Africa private equity (PE) deal activity has remained relatively stable despite a challenging political and economic environment in recent years, according to new research by the African Private...
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Remittances to sub-Saharan Africa to reach $33 billion in 2015
Remittances to Sub-Saharan Africa are expected to reach $33 billion (€30 billion) in 2015, as the remittance market is fast adopting mobile money as an effective means of money transfer, according to...
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Algeria: Sixteen foreign reinsurance brokers receive operating licence
Sixteen foreign reinsurance brokers have obtained an operating licence from the Insurance Supervisory Commission to trade on the Algerian market.These include British, French, Spanish, Lebanese,...
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Algerian government boosts consumer credit
The Algerian government has promulgated a decree to revive consumer credit.According to newspaper La Tribune, the decision was taken to reduce the country's import bill which has grown rapidly to...
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Algeria: Ansej in partnership with two banks to facilitate start-ups' access...
The National Agency for support to youth employment (Ansej) is to sign an agreement with two state banks to ease access to credit for start-ups, said on Monday (March 1st) its director Mourad Zemali.He...
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ECA advice to decrease female poverty in North Africa
Improving women’s access to finance in North Africa would decrease poverty throughout the region, especially in rural areas.According to new research by the Economic Commission for Africa (ECA) quoted...
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Algeria : Leasing company to launch €19.5 million bond
Maghreb Leasing Algeria is to issue a two billion dinars (€19.5 million) five-year bond, according to APS news agency.It has obtained the approval of the Commission for the organisation and supervision...
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The Bank of Algeria urges banks to help maintain the country's financial...
The Governor of the Bank of Algeria (BA), Mohamed Laksaci, urged banks and financial institutions in the country to strictly comply with their obligations in relation to foreign trade and foreign...
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Algeria : Credit rating system "almost ready" for the return of consumer credit
The Bank of Algeria is to establish a credit rating system to support the return in 2015 of consumer credit for locally produced goods.Abderahmane Benkhalfa, independent economic consultant and former...
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BNP Paribas to launch Islamic leasing product in Algeria
The bank BNP Paribas El Djazair is preparing to launch a leasing product in accordance with the Islamic Sharia law in Algeria."We are awaiting the regulator's approval to launch the product," CEO...
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Remittances to sub-Saharan Africa could reach $33 billion by 2014
Remittances to Sub-Saharan Africa are expected to reach $33 billion (€26 billion) in 2014, according to a new report from the World Bank (WB). This represents an increase of 3.2 per cent from 2013.In...
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Insurance sector to experience strong growth in the Maghreb, predicts...
The insurance industry in the Maghreb region has a high growth potential, according to a new report from credit rating agency Standard & Poor's (S&P).The document, which focuses on the...
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IFC partners with the Central Bank of Algeria to improve SMEs access to finance
IFC has joined forces with the Central Bank of Algeria to help improve access to finance and growth opportunities for small and medium-sized enterprises (SMEs).The institution has recently held a...
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Algiers Stock Exchange signed a cooperation agreement with Euronext Paris
Algiers Stock Exchange and Euronext Paris announced on 25 March the signature of a Memorandum of Understanding (MOU) with a view to enhancing cooperation between their markets.Euronext Paris and SGBV...
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Islamic finance is struggling in North Africa
Islamic finance has yet to fulfil its potential in the Maghreb.Despite the large Muslim population in Morocco, Algeria and Tunisia, only a small percentage of all financial transactions are carried out...
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AfDB calls for inclusive development in North Africa
The African Development Bank (AfDB) has released this week its annual report on North Africa in 2013, making several recommendations to regional states in a bid to strengthen their resilience to crises...
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European Investment Bank to invest in SMEs of the Maghreb region
The European Investment Bank (EIB) will invest €20 million in the "North Africa Venture Capital Fund II", managed by Capital Invest and dedicated to investment in small and medium-sized enterprises...
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Lending is up in Algeria
The country's banks have granted last year nearly 4300 billion dinars (€42.3 billion) worth of loans to the economy, up 15.3 percent from 2011, according to the latest figures from the BA, published by...
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Algeria: Sonatrach expands its activities into the personal insurance market
The Algerian national oil and gas company (Sonatrach) is about to launch – through one of its subsidiaries called "Cash" - a personal insurance company.Created this year, the new entity will partly be...
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Creation of a bank and a monitoring committee on economic integration in the...
The fifth regional conference on Maghreb economic integration, which took place on January 8th and 9th in Mauritania, led to the creation of two new institutions aimed at strengthening economic...
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The right to open a bank account now law in Algeria
Since January 2nd, any person domiciled in Algeria is able to open a bank account, if they do not already own one.This measure, granting the right to open a bank account, announced by the Bank of...
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Algeria makes it easier for consumers to open a bank account
New measures have been introduced on January 2nd by the central bank of Algeria to facilitate the opening of a bank account for consumers.The number of guarantees required to open a bank account has...
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Algerian mail company Algérie Poste sets up a new payment system for postal...
A new payment and operating system for postal cheques (CCP) will be introduced in Algeria during the first half of 2013. Mohamed Laid Mehloul, CEO of Algerian mail company Algérie Poste, made the...
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Algeria's government sets up new independent body to develop electronic banking
The Algerian financial sector will soon be equipped with an independent regulatory body in charge of overseeing electronic banking, which will replace the Interbank transactions and electronic banking...
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Algiers Stock Exchange improves SMEs' access to financial markets
Algiers Stock Exchange has introduced new measures to improve small and medium Enterprises' (SMEs) access to the Algerian financial market.The move is expected to help SMEs find new sources of funding,...
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Algeria: A new insurance scheme for agricultural disasters
A bill on a new scheme for agricultural disasters insurance was presented to the Algerian Finance Ministry.Farmers insurance can protect the farmer against losses linked to natural disasters such as...
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S&P sees long-term growth potential for Maghreb insurers
Credit rating agency Standard & Poor's (S&P) has just published a new report forecasting long-term growth for insurers in the Maghreb region of North Africa."Markets are likely to advance on...
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Bank of Algeria urges banks to install agencies throughout the territory
A recent study from the Union of Banks of Maghreb region (UBM) reveals that Algeria has the lowest banking services coverage in the area.Tunisia is ranked first with one bank branch for every 9 ,530...
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Algeria: ANDPME and AGEA sign agreement to bring financial training to SMEs
Small to medium-sized enterprises (SMEs) still claim access to credit is a major issue for them, states a document from the employment union FEC.These companies face difficulties accessing loans as...
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Algeria slowly moving towards a cashless society
Electronic payments are struggling to develop in Algeria, hampered by a low access to banking services, retailers' reluctance to get equipped with Point of Sale Terminals and a lack of bankcard...
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Bank insurance sector expands in Algeria
This method is increasingly successful in Europe, Asia and the US, as it allows insurers to benefit from banks networks' and banking institutions to diversify their offerings.BNP Paribas, through its...
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Algerian employers call for bank dedicated to SME financing
Despite the government efforts, Algerian small to medium-sized enterprises (SMEs) are still facing difficulties accessing credit because they cannot provide the guarantees required by lenders,...
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Algeria: Credit to SMEs is increasing, but the FCE thinks the govt can do more
According to a report from the BDL published by APS news agency, this increase is due to the natural growth of the bank's portfolio as well as financial support brought from the state.Since last July,...
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Reforming SME competitiveness plan 'could boost access to finance in Algeria'
Algeria introduced this plan in July 2010, targeting 20,000 SMEs with a budget of 380 billion dinars (€3.9 billion) of public resources distributed through direct funding or via better interest rates...
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New leasing company to be created in Algeria
Algerian bank BEA and Portuguese bank BES have signed a partnership to create a new leasing company in Algeria.With an initial capital of 3.5 billion Dinars (€35.7 million), its objective is to develop...
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Algeria: New insurance product launched for potato producers
The National Agricultural Insurance Fund (CNMA) is set to launch a new insurance policy in Algeria protecting against yield losses for potato producers, La Tribune newspaper reports.This policy, which...
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Algeria: Reforms introduced to encourage SMEs to enter stock markets
Among these reforms are plans to encourage small and medium enterprises (SMEs) to enter the stock market as a way of diversifying their financing sources and broaden the number of companies listed,...
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Algeria will recapitalize state-owned banks in 2017
In 2017, the Algerian government will recapitalize public banks, which currently face a liquidity crisis.In the final version of the 2017 budget law, seen by news website TSA, an amount of 42 billion...
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Algeria to privatise banks following drop in oil prices
Algeria's six state-owned banks will soon list on the local stock exchange, the government has announced.A senior financial official told Reuters that the objective is to contribute to developing the...
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Business growth in the MENA region hampered by lack of access to credit
Political instability, corruption, poor electricity supply and lack of access to credit is impeding business development in the Middle East and North Africa (MENA), according to a new reportThe study,...
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Algeria plans to launch Islamic finance, says BFIA
Algeria is preparing to launch Islamic financial services, a senior financial official told Reuters.Boualem Djebbar, head of the Banks and Financial Institutions Association (BFIA), said the government...
View ArticleAlgeria, UAE apex banks sign MoU
As the bilateral relationship between Algeria and United Arab Emirates grows, dominated by economic and financial sector agreements, the Central Bank of the UAE and the Bank of Algeria have signed a...
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Algeria to launch mobile payments in 2018
Mouatassim Boudiaf, Minister Delegate for the Digital Economy and Modernization of Financial Systems, announced that mobile payment will be launched in Algeria in 2018.Mobile payment will expand the...
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Algeria: Approval of a concessional loan of 900 million euros granted by AfDB
A loan agreement of 900 million euros granted to Algeria on favorable terms by the African Development Bank (AfDB) was adopted Wednesday by the Council of Ministers.The statement made after the council...
View ArticleIFC invests $30 million into payment infrastructure across MENA
The International Finance Corporation (IFC), a member of the World Bank Group and the IFC Middle East and North Africa (MENA) Fund have announced a $30 million indirect equity investment to fund...
View ArticleAlgeria: Three public banks to start offering Islamic finance services before...
Being Sharia-compliant, these services will be interest-free. By deciding to enter the Islamic finance market, these institutions wish to respond to the needs of a group of customers that have been...
View ArticleBPCE to launch an e-bank in Algeria
This new bank will be elaborated on the model of Fidor Bank, bought in July 2016 by the French group. It will namely include a mobile banking service and a community platform on which Internet users...
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