Banks, financial services, lending, and fintech developments
Algeria - The Bank of Algeria has issued a new instruction defining the Know Your Customer (KYC) procedures applicable to banks and financial institutions as well as the financial services of Algeria Post.
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The Bank of Algeria has implemented strict measures that reshape how banks and financial institutions interact with customers. This directive adopts an expanded and proactive approach to 'Know Your Customer' (KYC), making verification and monitoring a continuous process before, during, and after any financial relationship. In this context, a directive numbered 04-2026, issued on April 30, 2026, and signed by the Governor of the Bank of Algeria, Mohamed Amine Labbou, precisely defines the KYC procedures applicable to banks, financial institutions, and the financial services of Algeria Post. The inclusion of exposed politicians under strict monitoring and the obligation to verify the sources of wealth.
echoroukonline.com
The Bank of Algeria issued a new instruction numbered 04-26 dated April 30, 2026, in implementation of the provisions of system number 03-24 dated July 24, 2024, related to the prevention of money laundering and the financing of terrorism and the proliferation of weapons of mass destruction and their combating, amended and supplemented.
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The economic and financial expert Idir Sassi estimated the importance of the issue of inflating export invoices and the failure to recover hard currency, considering it one of the most prominent files strongly raised in the current economic discussion. This comes at a time when the President revealed during his regular meeting with the national press that about 350 million dollars had not entered the state treasury due to what he described as 'deliberately reducing the value of exports.' President Abdelmadjid Tebboune continued, saying: 'We got rid of the gang inflating import invoices, and we found ourselves facing a new gang deliberately reducing the value of exports.' Read the full content on Echourouk Online.
echoroukonline.com
The Bank of Algeria has issued a new instruction defining the Customer Due Diligence (KYC) procedures applicable to banks and financial institutions as well as the financial services of Algeria Post. Instruction No. 04-2026, dated April 30, 2026, signed by the Governor of the Bank of Algeria, Mohamed Lamine Labo, is in implementation of the provisions of Regulation No. 24-03 dated July 24, 2024, concerning the prevention of money laundering and the fight against the financing of terrorism and the proliferation of weapons of mass destruction, as amended.
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As part of the prevention of money laundering and the financing of terrorism.
elkhabar.com
The National Chamber of Auditors has begun an unprecedented transformation in the auditing profession through a national training program that attracted 700 professionals distributed across 22 centers in 16 provinces, in a step to unify practices and enhance efficiency, and also to facilitate Algeria's exit from the grey list of the Financial Action Task Force (FATF). This process is accompanied by the integration of international compliance standards, especially recommendations to combat money laundering, which redefines the role of auditors as a player in the transparency system and economic protection. Focus on combating money laundering and terrorist financing and reviewing the legal framework of the profession. Read the full content on Echourouk Online.
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Economy DZD aliqtissad dz Algeria economy news
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AL24 News - Japan signs first loan as part of a commitment to invest $550 billion in America - news
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Economy of Algeria news
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Algeria - The Algerian Phone Industry Company 'Inatel' and the Banking Services Company signed an agreement to renew their contract related to the development of electronic payment solutions in Algeria, according to a statement from Inatel.
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The Algerian Post has launched the Cashless Business card service, exclusively for holders of CCP Business Cashless postal accounts.
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