Banks are required to report to the 'Risk Central' and the factoring transfers rights and guarantees to the intermediary, preventing the factoring of debts subject to mortgage or assignment or any guarantee that affects the rights of the intermediary. The Bank of Algeria has defined, through a new system, the conditions for banks and financial institutions to practice factoring and the procedures for this process, which involves the institution transferring its commercial debts owed by its clients to a bank or financial institution, in exchange for receiving their value immediately, with the intermediary bearing the risk of non-payment. The system aims to define the conditions for banks and financial institutions to practice factoring and the procedures for its operation, considering factoring as a process carried out within the framework of a written agreement with a substitutive effect.
Algeria - Finance Minister Mohamed Lamine Lebou confirmed today, Thursday in Algiers, that the draft finance law for the year 2027 aims to diversify public revenues and attract funds circulating in the parallel market, in addition to mitigating the impact of the global inflation wave and preserving citizens' purchasing power.
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Algeria - Today, Thursday in Algiers, the leaders of the parliamentary groups in the National People's Assembly praised the measures included in the 2027 finance law project, which enshrine the strengthening of the economic reforms initiated by the state, calling for enhancing the efforts to diversify the economy and improve the efficiency of public spending, ensuring the achievement of sustainable development requirements.
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Algeria - Finance Minister Mohamed Lamine Lebo began today, Thursday, to respond to the questions and concerns of the members of the National People's Assembly regarding the draft finance law for the year 2027.
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