Localization of all goods and services export operations within 48 hours

The Bank of Algeria reminded in a letter to the directors of accredited banks on Tuesday that all goods and services export operations must be localized within a maximum period of 48 hours from the date of receiving a complete file. Banks are required to 'prioritize export files by simplifying their internal processing pathways while ensuring strict adherence to the mentioned deadline,' according to a memorandum from the central bank. The memorandum emphasized that 'any unjustified delay exposes the concerned bank to strict supervisory measures in accordance with the applicable regulatory provisions.' In addition to adhering to file processing deadlines, the Bank of Algeria stressed the need to 'enhance oversight in the field of foreign trade by ensuring the legality and compliance of the...