Banks Rush to Purchase Company Invoices and Provide Liquidity in Advance!
These are the advantages of factoring, and the process allows for the mobilization of commercial receivables and their conversion into immediate liquidity by identifying the creditor and debtor and the necessary information to assess the financial situation of both parties. Algerian banks are currently accelerating the adoption of a long-awaited new mechanism by economic operators, namely the financial factoring service, which is expected to put an end to the liquidity shortage that constrains some institutions despite having significant contracts and orders. This acceleration came after the Bank of Algeria provided full legal coverage for the practice of this activity, thus opening the door to a real revolution in financing methods for the national economy. In this context, the Algerian External Bank had launched the first service...
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