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May 3, 2023 | 2 years ago

First operations scheduled for end-June: Two Algerian banks in Africa to boost exports

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Officially approved by the monetary authorities in December 2022, the National Housing Bank, with a share capital of 80 billion dinars, will be able to carry out all forms of authorized banking operations, including those intended to finance the implementation of various housing programs.

At the same time, the national banking sector will also see a strategic strengthening of its role at the international scale, namely through the entry into operation, expected at the end of the current semester, of two first branches of Algerian public banks abroad, in this case those located in Nouakchott and Dakar, to serve the African market, pending the approval of other agencies, in particular the one planned in France to promote Algerian exports to European markets.

 

Thus, the planned launch of the activities of the two largest Algerian banks in Africa at the end of June should constitute a new key factor in facilitating the act of exporting and thus contribute to achieving the expected objectives in terms of accelerating the development of the country’s non-hydrocarbon exports.

May 3, 2023 | algeria-logo