The Governor of the Bank of Algeria, Mohamed Lamine Labo, announced the issuance of a new directive for banks within a week regarding the implementation of 'Know Your Customer' (KYC) standards, in order to adapt the national banking system to the transformations occurring in financing methods. According to Algerian television, Labo clarified during a dialogue session held today, Tuesday, April 28, as part of the second edition of the 'CEO Survey' at the International Conference Center 'Abdelatif Rahal' that this directive will be mandatory for all banks, taking into account the specificities of the activities of economic operators, who can, based on a simple declaration, disclose their future income and how it will be used 'without facing obstacles'.
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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