Banks, financial services, lending, and fintech developments
Gold prices rose by more than $45 during trading today, recovering most of the losses incurred in the previous session, amid a decline in the US dollar index.
Gold prices declined during trading today, Monday, with the rise of the US dollar and increasing oil prices, while the precious metal continued its decline in the Algerian market.
The AfDB raises Algeria's growth to 4.1% -Ebourse - Finance-Insurance
Algeria wants to accelerate its exit from the grey list of the Financial Action Task Force (FATF). Indeed, following the recent adoption of the new text amending and supplementing the law relating to the conditions for carrying out commercial activities and the application of 'Know Your Customer' (KYC) standards, which constitute a mechanism applied by banks and financial institutions to identify and verify the identity of clients and operators, a new specific regulation for accountants, auditors, and certified accountants has just been published. The article Exit...
Audit of the source of funds and monitoring of influential Algerians and foreigners - Termination of the contractual relationship with any unidentified client. The Ministry of Finance, in a decision signed by Minister Abdel Karim Boualzerd, ordered that accountants, accounting auditors, and certified accountants be subjected to a strict control system to combat money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction. This includes unprecedented measures requiring accounting and auditing offices to report any suspicious transaction immediately, even if it is just an incomplete attempt, with a prohibition on invoking professional secrecy before the Financial Intelligence Processing Unit. The decision imposed on accounting professionals the monitoring of political clients and influential Algerian figures.
The dollar continued its decline against major currencies on Friday, on track to end the week lower, following reports that the United States and Iran reached an agreement to extend the ceasefire and lift restrictions on navigation through the Strait of Hormuz. Four sources told Reuters that the agreement, which is still awaiting approval from President Donald Trump, will extend the ceasefire for 60...
The inflation rate in the United States rose in April at the fastest pace in three years, bolstering economists' expectations that the Federal Reserve (the U.S. central bank) will keep interest rates unchanged until late next year. The Bureau of Economic Analysis of the U.S. Department of Commerce reported yesterday, Thursday, that the Personal Consumption Expenditures Price Index jumped 3.8 percent in the 12 months ending in April, the largest increase since May 2023.
Gold prices fell today, Thursday, to their lowest levels in nearly two months, affected by rising tensions between the United States and Iran, which increased concerns about rising inflation and weakened expectations for interest rate cuts. According to trading data, gold dropped in spot transactions by 1.5% to $4388.76 per ounce by 07:40 GMT, after earlier touching a low...
– Accelerating digital transformation and generalizing electronic payment – Opening new agencies and improving reception quality. Public banks have initiated a series of expanded meetings and coordination sessions with their officials, agency managers, and central and local staff, as part of implementing the three new directives from the Bank of Algeria regarding the organization of banking operations related to foreign trade and updating work mechanisms within the banking network, especially ensuring the financial solvency of the importer and applying the 'Know Your Customer' memorandum, as well as the memorandum regarding the non-banking localization of the importer before shipping. These movements come, according to banking sources, after the issuance of new regulatory instructions that emphasized resetting the course of operations.
The CEO of the electronic industries company 'Inni', Abdel Salam Bouab, revealed that the company has met the banks' requests for electronic payment devices, in line with the higher authorities' direction in the country to generalize the electronic payment mechanism during commercial and banking transactions. The spokesperson explained, in a statement to 'Echorouk', that the company has mobilized all its material and human resources to produce an estimated 1.6 million electronic payment devices, in compliance with the content of the agreement concluded with the Ministry of Finance and the banks, by opening production lines at a rate of 20,000 units per month, adding that the company remains ready to resume production as soon as requests are made, while the company's warehouses have a surplus of ...
Gold prices rose by more than $32 during trading on Monday, recovering most of the losses incurred last week, as the U.S. dollar index declined.
the PDF of the eBourse journal of May 25, 2026: economic news, financial markets, stock exchange, investments, and analyses in Algeria.