Banking & Finance

Banks, financial services, lending, and fintech developments

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Regulatory & Legal
After “GAFI”… Towards Removing Algeria from the European Union List

After “GAFI”… Towards Removing Algeria from the European Union List

Verification of sanctions lists and individuals and terrorist entities within a mandatory 24-hour passage through banking channels for all real estate transactions, allocating more than 20 percent of the chamber's budget to enhance oversight, inspecting all notary offices nationwide in four oversight rounds. Abdel Salam Boujmaline, Vice President of the National Chamber of Notaries, reveals in an exclusive interview with “Echorouk” the behind-the-scenes of the battle Algeria fought to exit the gray list of the Financial Action Task Force “GAFI”, and the role notaries played in achieving this accomplishment, confirming that this gain paves the way for removing Algeria from the European Union's blacklist, which would enhance investor confidence and facilitate transactions.

Jul 19, 2026echoroukonline.com
Regulatory & Legal
The 750 Euro grant procedure comes into effect this Saturday, and banks inform their customers of the details

The 750 Euro grant procedure comes into effect this Saturday, and banks inform their customers of the details

Starting this Saturday, July 18, 2026, the new procedure for the tourist currency grant, amounting to 750 Euros for adults, will come into effect, with disbursements made via international bank cards. Several banks have rushed to inform their customers about how to benefit from it and the required documents. In this context, the Bank of 'Gulf Algeria' 'AGB' confirmed in a statement to its customers that the grant will be available at the branches for holders of nominal 'Visa' cards, during the period extending from seven to three days before the travel date. The bank also specified the documents to be submitted, which include a round-trip travel ticket or a tax receipt...

Jul 17, 2026echoroukonline.com
Banking & Finance
Revenue of 'Alliance Assurances' Increases by 11 Percent

Revenue of 'Alliance Assurances' Increases by 11 Percent

The company 'Alliance Assurances' achieved growth in its activity during the second quarter of 2026, with its revenue rising to 1.578 billion dinars, compared to 1.424 billion dinars during the same period in 2025, marking an increase of 11 percent. The company stated in a report on its activity indicators for the period from April 1 to June 30, 2026, that the automobile insurance branch continued to lead growth, with its revenue increasing by 15 percent to reach 1.216 billion dinars, while the transport insurance branch also recorded growth of 15 percent, achieving 61.78 million dinars. In contrast, the fire and various risks insurance branch (IARD) experienced a decline of 2 percent, settling at 221.06 million...

Jul 15, 2026echoroukonline.com
Banking & Finance
These are the conditions and procedures for obtaining international payment cards

These are the conditions and procedures for obtaining international payment cards

The process normally takes between 15 days to two months depending on the request. Banks expedite the issuance of 'Visa' cards within 48 hours thanks to stock availability. The procedure enhances the transparency of the travel allowance and expands the use of electronic payment methods. On Monday morning, bank agencies witnessed a significant influx of citizens immediately after the instructions of President Abdelmadjid Tebboune regarding the disbursement of the foreign travel allowance, estimated at €750, exclusively through bank cards. Most inquiries focused on how to obtain international payment cards, the conditions for opening accounts in hard currency, and the timelines for card issuance. Banking sources confirmed to 'Echorouk' that a large number of citizens, who had never previously...

Jul 13, 2026echoroukonline.com
Regulatory & Legal
Bank of Algeria Defines Procedures for Granting Currency Exchange Rights via Bank Card

Bank of Algeria Defines Procedures for Granting Currency Exchange Rights via Bank Card

The Bank of Algeria issued a directive today, Monday, outlining the procedures for granting currency exchange rights for travel abroad via bank card. This directive, numbered 07-2026, comes in implementation of a decision by the President of the Republic, Mr. Abdelmadjid Tebboune, during his chairing of a Cabinet meeting yesterday, Sunday, which stipulated that obtaining the travel allowance should temporarily be done via a bank card, due to serious abuses that have caused a drain on hard currency, without the beneficiaries of the allowance benefiting.

Jul 13, 2026radioalgerie.dz