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July 30, 2025 | 6 months ago
Insurance: An investment fund for startups
On Tuesday in Algiers, Abdelhakim Berrah, the General Delegate of the UAR, said that an investment fund is being planned for the insurance sector.
At the opening of "Tam-Wil 2025" on Tuesday, the General Delegate of the Algerian Union of Insurance and Reinsurance Companies (UAR) announced plans for public insurance companies to set up an investment fund to support start-ups and companies involved in insurance or reinsurance.
Accelerating the creation of a digital bank
"We have introduced measures to boost innovation in the sector, notably through the creation of the "Finlab" financial studies laboratory and a savings and financing observatory to observe savings trends and gain a clearer idea of what type of financing is required for what type of business", he reports, pointing out that the UAR works closely with various financial institutions, including banks and the Algiers Stock Exchange.
Finlab CEO Ikram Eddine Hichoure, for his part, calls for accelerating the creation of a digital bank in Algeria, which is
still struggling to get off the ground despite changes to the regulatory framework in this area. "We hope to move quickly from the legislative framework to implementation in this area. To accelerate the process, we recommend establishing a legal framework for an organizational and experimental platform to test new financial products and the market's reaction to the creation of a digital bank. We will also need to strengthen our skills in this area and conduct awareness campaigns for the general public," he said.
July 30, 2025 | 
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