Banks Reassess the Files of Algerians' Funds and Activities!

Identity card, proof of residence, and activity are at the forefront of the required documents. Business owners are required to provide the commercial register and the articles of association. Banks and financial institutions in Algeria have begun asking their clients to update their files and data as part of implementing the 'Know Your Customer' procedures, where providing documents that prove identity, residence, activity, and sources of resources has become part of the process of updating banking information. The nature of the required documents varies according to the status of the customer, whether a natural or legal person, and according to the nature of the banking relationship. Required documents for natural persons include a valid identity document, proof of residence, and documents proving activity and resources, while legal persons are required...