Banking & Finance

Banks, financial services, lending, and fintech developments

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Banking & Finance
Loan to Finance the Acquisition of New Buses for Passenger Transport

Loan to Finance the Acquisition of New Buses for Passenger Transport

The Agricultural and Rural Development Bank announced in a statement on Wednesday the launch of a new product aimed at carriers to finance the renewal of the public transport fleet for passengers, which reaches up to 90 percent of the cost of acquiring the bus, as part of supporting the efforts of public authorities within the program to withdraw buses that are over 25 years old. The same source clarified that the bank offers private carriers, whether natural or legal persons, financing 'that can reach up to 90 percent of the cost of acquiring the bus, including all fees with a personal contribution from the beneficiary of 10 percent of the purchase price in addition to state support of 20 percent.' This financing is available in both classic financing format and also service ...

Aug 19, 2026echoroukonline.com
Regulatory & Legal
Abderrezak Souffi, head of claims at GAM Assurances: "A reduced premium remains an unfunded promise"

Abderrezak Souffi, head of claims at GAM Assurances: "A reduced premium remains an unfunded promise"

Abderrezak Souffi: The analysis of the Algerian damage insurance market highlights structural, economic, and competitive factors that hinder its expansion and weigh on the profitability of companies, portfolio diversification, and insurance culture. The portfolio remains dominated by automobile insurance, whose premium for the mandatory RC guarantee, administered, does not reflect …

Aug 19, 2026ecotimesdz.com
Banking & Finance
Precious metals: Gold declines

Precious metals: Gold declines

Gold prices fell yesterday Tuesday due to the surge in U.S. Treasury yields. Spot gold was down 0.5% at $4,393.11 an ounce (1:51 PM GMT), while U.S. gold futures for December delivery dropped 0.6% to $4,448.

Aug 18, 2026ecotimesdz.com
Banking & Finance
Banks Reassess the Files of Algerians' Funds and Activities!

Banks Reassess the Files of Algerians' Funds and Activities!

Identity card, proof of residence, and activity are at the forefront of the required documents. Business owners are required to provide the commercial register and the articles of association. Banks and financial institutions in Algeria have begun asking their clients to update their files and data as part of implementing the 'Know Your Customer' procedures, where providing documents that prove identity, residence, activity, and sources of resources has become part of the process of updating banking information. The nature of the required documents varies according to the status of the customer, whether a natural or legal person, and according to the nature of the banking relationship. Required documents for natural persons include a valid identity document, proof of residence, and documents proving activity and resources, while legal persons are required...

Aug 18, 2026echoroukonline.com
SMEs & Local Business
Tamkeen Program: Tébessa focuses on microcredit

Tamkeen Program: Tébessa focuses on microcredit

Tébessa is establishing itself as a dynamic hub for encouraging entrepreneurship through supported grassroots initiatives. Since last June, the province has been the scene of twenty-two local meetings dedicated to raising awareness about entrepreneurship. This approach is fully part of the large-scale national program titled '1,800 minutes Tamkeen'.

Aug 18, 2026ecotimesdz.com
Banking & Finance
Sofiane Mazari, expert in Islamic finance: "Islamic finance plays an important role in financial inclusion"

Sofiane Mazari, expert in Islamic finance: "Islamic finance plays an important role in financial inclusion"

Islamic finance expert Sofiane Mazari decodes decision n° SGBV/01-26 of the Société de gestion de la Bourse des valeurs, which sets the trading rules for sukuk Ijara issued by the public treasury. He discusses the mechanism of this Sharia-compliant instrument, the financing formula provided by the 2025 finance law, and reviews six years of Islamic finance in Algeria.

Aug 17, 2026ecotimesdz.com
Banking & Finance
ECOTIMES

Renewal of the bus fleet: BEA launches a dedicated credit

The Banque extérieure d’Algérie (BEA) announced yesterday the launch of an investment credit dedicated to the acquisition of new buses, as part of the mandatory replacement of buses over 25 years old decided by the public authorities. This obligation follows a decision by the Council of Ministers on May 3, which set a three-month deadline for the withdrawal of the affected vehicles.

Aug 17, 2026ecotimesdz.com
Regulatory & Legal
180 Days to Collect Export Funds Outside Hydrocarbons!

180 Days to Collect Export Funds Outside Hydrocarbons!

The Bank of Algeria has opened a wider margin for exporters outside hydrocarbons in granting payment deadlines to their non-resident clients, allowing the deadline to extend to 180 days, or six months. However, it has set a clear limit to this flexibility by requiring prior insurance on the export loan whenever the deadline exceeds 120 days, obliging the exporter to transfer the value of the transaction on the day it is paid by the foreign client. This comes under system No. 26-02 dated July 23, 2026, amending and supplementing system No. 07-01 dated 15 Muharram 1428 corresponding to February 3, 2007, related to the rules applicable to current transactions with abroad and accounts in hard currency. The amendment reveals, upon reading the new Article 61, ...

Aug 15, 2026echoroukonline.com