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January 18, 2023 | 2 years ago

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The transformation of CNL (National Housing Fund) into a bank initiated

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The former CNL, which had, since its creation in 1991, the status of an EPIC (national economic institutions) and which had the vocation of managing State aid for housing, has now become a financial institution, otherwise a bank, bearing the name of “Banque Nationale de l’Habitat” with a legal status of SPA (joint stock company).

The ‘Banque Nationale de l’Habitat SPA’ has recently obtained its authorization to carry out its activity by virtue of a decision of the Banque d’Algérie (BA), published in the Official Journal (OJ) (N 90).

The authorization issued by  Governor of the Banque d’Algérie, Salah-Eddine Taleb, is dated 29 December 2022.

It has a share capital of eighty (80) billion DA.

The new bank is under the responsibility and direction of Mr. Zahana Mohamed El Habib, as Chairman of the Board of Directors, and Mr. Belayat Ahmed, as Managing Director, as the financial institution “may carry out all operations recognized to the banks”.

Minister of Habitat, Urban Planning and the City, Mohamed Tarek Belaribi, had indicated that the Housing Bank will be “a financial institution offering the housing sector ease in financing housing programs, in all social and other forms, in addition to promoting the good running and launching of projects.”

The establishment of the Housing Bank is one of the 54 commitments of President of the Republic, Mr. Abdelmadjid Tebboune, contained in his program.

January 18, 2023 | algeria-logo

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