The Bank of Algeria issued a new memorandum regarding the determination of ceilings for excessive interest rates applied during the second half of 2026, as part of the implementation of the provisions of Instruction No. 06-2026 amending Instruction No. 08-2016 concerning the methods for determining excessive interest rates, aimed at enhancing the protection of borrowers and ensuring that banks and financial institutions do not exceed the permissible limits when granting loans. The bank clarified, in Memorandum No. 01-2026 issued by the General Directorate of Credit and Banking Regulation, which was reviewed by 'Echorouk', that these ceilings were determined based on the averages of the actual total interest rates reported by banks and financial institutions during the first half of 2026.
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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