Banking & Finance

Banks, financial services, lending, and fintech developments

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Banking & Finance
For these reasons, 23,000 Algerians chose Takaful insurance in 90 days

For these reasons, 23,000 Algerians chose Takaful insurance in 90 days

Takaful companies with full powers and new windows enter the competition. Sukuk opens new horizons for Takaful insurance to invest its surpluses. The use of digitization and artificial intelligence reduces compensation periods. The Takaful insurance market in Algeria is expanding with the entry of new offers, an increase in the number of agencies, and the opening of subscriptions through banks, allowing customers to find multiple options between property and life insurance and other products, whether in Takaful or traditional forms. Hassen Khalifati, a member of the Algerian Federation of Insurance and Reinsurance Companies, stated to 'Echorouk' that Takaful insurance activity is witnessing significant development, and this type of insurance is starting to find its place in the market, especially with the increasing acceptance...

Sep 2, 2026echoroukonline.com
Economic Policy
Mohamed Lamine Labo Takes Office as Minister of Finance

Mohamed Lamine Labo Takes Office as Minister of Finance

Mr. Mohamed Lamine Labo officially took office as Minister of Finance today, Wednesday, succeeding Abdel Karim Boualzerd, following the partial cabinet reshuffle carried out by the President of the Republic, Mr. Abdelmadjid Tebboune, yesterday, Tuesday. The handover ceremony took place at the ministry headquarters, attended by the Director General of Customs, General Abdelhafid Bekhouch, ministry officials, and heads of institutions under supervision.

Sep 2, 2026radioalgerie.dz
Banking & Finance
Gold Falls to Lowest Level in Over Three Weeks

Gold Falls to Lowest Level in Over Three Weeks

The price of gold fell today, Wednesday, to its lowest level in over three weeks as investors await U.S. jobs data. Gold dropped in spot transactions by 0.6 percent to $4304.01 per ounce, the lowest level since August 7, heading for a fourth consecutive session of losses, and remained below its 200-day moving average, a closely watched technical level.

Sep 2, 2026radioalgerie.dz
Regulatory & Legal
New Prices for Home Insurance Against Earthquakes and Natural Disasters

New Prices for Home Insurance Against Earthquakes and Natural Disasters

Public authorities have approved a new review of the standards and rates for mandatory insurance against the risks of natural disasters, particularly earthquakes, by determining the contribution rates to be paid based on the seismic zone in which the property is located and the compliance of the building with Algerian earthquake resistance standards. The new decision was published in the official journal reviewed by 'Echorouk', amending and supplementing the decision dated October 31, 2004, concerning the standards and rates applied in the field of insurance against natural disaster risks. The tables attached to the decision reveal the adoption of a new pricing system that takes into account the degree of seismic risk, the strength of the building, and its compliance with earthquake-resistant construction rules.

Aug 31, 2026echoroukonline.com
Banking & Finance
Clarifications from the 'Algerian Banks' on the 'Know Your Customer' System

Clarifications from the 'Algerian Banks' on the 'Know Your Customer' System

'Housing Bank': Knowing the customer is an ongoing process, not a temporary one. 'National Bank' regularly updates files. 'CNAP Bank' generalizes verification procedures. Algerian banks continue to clarify the procedures of the 'Know Your Customer' system for their clients, after starting to audit the identities and files of customers and calling for the updating of personal and banking information. The process is no longer limited to collecting documents and completing files, but aims to ensure that banks have accurate and updated information about the customer's identity, personal and professional status, and the nature of their activity, which allows for enhancing the security of accounts and transactions and improving the quality of banking services. According to data received by 'Echorouk', several banking institutions have intensified awareness operations regarding this system.

Aug 29, 2026echoroukonline.com
Regulatory & Legal
New Clarifications on Import Programs for Management and Equipment

New Clarifications on Import Programs for Management and Equipment

The Professional Association of Banks and Financial Institutions sent a letter to the heads and general managers of banks, containing new clarifications regarding the import files for its own account, related to management and equipment, for the first half of 2026, based on a letter issued by the Ministry of Foreign Trade and Export Promotion dated August 26. The letter, numbered 606/2026, specifies the validity periods for the estimated import programs related to management, clarifying the cases in which bank settlement procedures can continue after the specified period for these programs has ended. According to the document reviewed by 'Echorouk', the validity of the estimated import programs for management for the first half...

Aug 28, 2026echoroukonline.com