Banks, financial services, lending, and fintech developments
Gold prices fell on Tuesday, heading for the worst quarterly performance in 13 years, amid rising concerns about inflation caused by the war in the Middle East. Gold dropped in spot transactions by 0.2 percent to $4008.94 per ounce, after earlier touching its lowest level since November 2025. View the full content on الشروق أونلاين
The Professional Association of Banks and Financial Institutions (ABEF) announced the extension, until December 31, 2026, of the exceptional authorization granted to banks for the domiciliation of import invoices including freight charges. In a correspondence addressed to the general managers of banks, dated June 28, 2026, ABEF indicates that it has been contacted by the services of the Ministry of Foreign Trade and Export Promotion regarding this measure, initially implemented as an exception. This decision thus allows establishments...
The Bank of Algeria has issued a new directive regarding the methods for determining excessive interest rates on loans, which took effect immediately upon issuance. The directive number 06-2026 dated June 29, 2026, amends directive number 8-2016 dated September 1, 2016, concerning the methods for determining excessive interest rates on loans. According to the first article of the text of the directive published by the Bank of Algeria, …
Interest becomes excessive if it exceeds the market average by more than 5 percentage points. The decision amends instruction 08-2016 regarding the determination of excessive interest rates in a step aimed at recalibrating the legal framework governing the calculation of excessive interest on bank loans. The Bank of Algeria issued a new instruction that modifies the provisions of the instruction in force since 2016, clarifying the reference standard used for classifying loans with excessive interest rates, and establishes the total effective interest rate as the main criterion for measuring the cost of financing. The Bank of Algeria issued instruction number 06-2026, dated June 29, 2026, signed by the bank governor, Mohamed Amine Labou, to amend instruction number 08-2016.
The Bank of Algeria has issued a new directive amending the provisions for determining excessive interest rates on loans, signed by the bank's governor, Mohamed Amine Labou, aimed at recalibrating the regulatory framework for pricing bank loans and enhancing borrower protection from inflated interest rates. The directive No. 06-2026, dated June 29, 2026, relates to the amendment of directive No. 08-2016 issued on September 1, 2016, concerning the methods for determining excessive interest rates, which came into effect from the date of its signing. Read the full content on Echourouk Online.
The regional fund for agricultural cooperation in Algiers has launched a new service in the field of car insurance that allows policyholders to receive compensation on the same day the accident is reported, as part of a program aimed at speeding up file processing and modernizing insurance services, according to a statement from the National Fund for Agricultural Cooperation. The statement clarified that the new mechanism, named “PV Minute,” is now available at all regional fund agencies in Algiers, after being implemented for the first time at the regional fund for agricultural cooperation in...
Algeria - The Regional Fund for Agricultural Cooperation in Algiers launched a new service in the field of car insurance today, Monday, allowing immediate compensation for insured individuals on the same day the accident is reported, according to a statement from the National Fund for Agricultural Cooperation.
Banks are required to send the results of shipping fees for the second semester and periodic reports on shipping expenses to foreign trade services. Authorities decided to extend the exceptional license granted to banks, which allows the settlement of import invoices that include shipping expenses, until December 31, 2026, instead of ending on June 30 of this year, in a move aimed at ensuring the smoothness of import operations and avoiding any administrative obstacles that may delay the processing of files for economic operators. In detail, an official correspondence sent by the Professional ...
In just 90 days of 2026, the insurance sector in Algeria achieved a turnover exceeding 57 billion dinars, while the value of compensations and pending claims to be settled exceeded 127 billion dinars, indicating the massive financial volume managed by insurance companies. Concurrently, the car insurance branch experienced a notable recovery, driven by the conclusion of more than 132,000 new contracts during the first quarter, capturing over half of the damage insurance market, confirming its position as a growth engine for the sector amid rising compensations and the ongoing challenge of settl...
Iranian state media reported, citing President Masoud Bezhakian, that Iran will recover $6 billion of its frozen assets in Qatar, out of a total of $12 billion, following an agreement reached with the United States that resulted in the lifting of sanctions on the oil and petrochemical sectors. Bezhakian explained today, Monday, that the release of these funds comes as part of the implementation of the temporary agreement reached between Tehran and Washington during the current month of June, paving the way for a comprehensive settlement of the ongoing conflict between the two countries.
In a move that enhances the expansion of the Algerian financial market, the Commission for Organizing and Monitoring Stock Exchange Operations 'Cossob' granted its approval during its meeting held on June 24, 2026, on the information memorandum related to increasing the capital of the public institution 'EPE CSC Expertise Spa' by 15%, through public savings, thus raising the total number of companies listed on the Algeria Stock Exchange to 11 companies.
Global markets witnessed a volatile and sharp start to the week, with oil prices rising significantly while gold prices fell, amid renewed direct military confrontations between the United States and Iran, raising increasing concerns about the security and safety of energy supplies through the Strait of Hormuz. This coincided with ongoing economic forecasts of an increase in U.S. interest rates, with Brent crude futures rising by 0.9 percent to reach $73.27 per barrel by 6:25 AM GMT, while West Texas Intermediate crude rose by 1.2 percent, recording $70.04 per barrel.