Politicians under the microscope, life insurance a high-risk product, 2 million centimes fine for non-disclosure of suspicion, ban on fictitious accounts, cutting ties and notification of suspicious cases. Insurance companies will be required, like banks, to identify the source of clients' funds in certain cases, with a strict regulatory framework applied to life insurance due to its high risk of money laundering, according to a new risk guide issued by the National Insurance Council in December. The guide puts politicians, along with their family members and close associates, in the high-risk category of clients, requiring enhanced and vigilant measures with prior approval from the regulatory body.
Algeria - The process of expanding the powers of public administration representatives at the one-stop shops of the Algerian Investment Promotion Agency continues, through the delegation of State Property Administration representatives to prepare and sign lease contracts for economic land, as part of simplifying administrative procedures and accelerating the realization of investment projects.
Algeria - The General Directorate of Taxes announced today, Sunday, in a statement, the extension of the deadlines for subscribing and submitting a number of tax declarations for taxpayers subject to the real profit system and the single flat-rate tax system, in order to enable them to meet their tax obligations under the best conditions.
Most homes and farms are not insured against fires; farmers are the most exposed to losses due to weak subscription. New insurance products to face climate disasters, digitization, and artificial intelligence to reduce compensation times. Hassen Khalifati, a member of the board of the Algerian Union of Insurance and Reinsurance Companies, warned that the expansion of fires in Algeria, due to heat waves and climate changes, is met with a clear weakness in the demand for fire insurance, which increases the losses incurred by families, farmers, and economic institutions when disasters occur. Khalifati explained, in a statement to 'Echorouk', that there are no accurate and updated statistics to determine the percentage of homes or farms...
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