Banks, financial services, lending, and fintech developments
Less than two years between registration with FATF and withdrawal, Ryad Ferrah, expert in banking infrastructure modernization and
Algeria - The Financial Action Task Force (FATF) congratulated Algeria on the positive progress made in combating money laundering, which led to the decision to remove the country from its 'grey list' of jurisdictions under increased scrutiny, a decision unanimously approved by the members of the plenary session of the group meeting yesterday, Friday, in Paris.
A new assessment by the FATF is expected by 2029, and transparency measures are ongoing. The declaration of suspicion continues, and a monitoring and qualification program extends until 2029. In the first direct gains from the country's exit from the FATF's gray list, foreign banks have officially lifted any reservations or strict monitoring measures they imposed on financial transfers to and from Algeria, which is expected to facilitate international financial transactions and reduce administrative burdens and additional costs that economic operators faced. Meanwhile, Algeria is preparing for a new phase aimed at maintaining this gain, by undergoing a new international assessment led by the FATF team by 2029.
The President of the Algerian Economic Renewal Council, Kamel Moulay, stated that Algeria's exit from the grey list of the Financial Action Task Force (FATF) represents an important milestone for our country and a positive signal for the national economy. Moulay said in a statement published by the council on Saturday, June 20, on social media that the decision for Algeria to leave the FATF grey list comes as a 'confirmation of the efforts made to enhance financial transparency, improve governance, and align the Algerian financial system with international standards.' Read the full content on Echourouk Online.
The President of the Algerian Economic Renewal Council, Kamal Moula, stated that Algeria's removal from the grey list of the Financial Action Task Force (FATF) represents a 'significant milestone for the country and a positive signal for the national economy.' Moula explained, in a statement to the Algerian News Agency, that this decision comes as 'a consolidation of efforts made to enhance financial transparency, improve governance, and bring the Algerian financial system closer to international standards.'
The decision by the Bank of Algeria reflects the strengthening of international community's confidence in the resilience and flexibility of the Algerian financial system.
Algeria Post has revealed that it continues to implement 'Know Your Customer' (KYC) procedures and update customer data, which contributes to improving the reliability of information and enhancing compliance with national and international standards related to combating money laundering and financing terrorism.
The action plan supervised by President Tebboune bears fruit as the file for enhanced follow-up is closed. The Minister of Finance and the Governor of the Bank of Algeria lead the delegation to the decisive session in Paris. From Paris, the news that Algeria has been waiting for months has arrived, and the curtain has officially fallen on one of the most important financial and economic files that occupied public authorities over the last two years. After an intensive reform process that included extensive legislative amendments, unprecedented oversight measures, and comprehensive mobilization of various state institutions, the Financial Action Task Force (FATF) decided on Friday to remove Algeria from the gray list of countries under enhanced follow-up, in a clear international recognition of the effectiveness of the reforms undertaken and the country's success in aligning with...
Gold prices fell today, Friday, following a downward trend that puts them on track for a third consecutive weekly loss. This decline was driven by the continuous rise in the values and indicators of the US dollar, along with strong hints from the Federal Reserve (the US central bank) leaning towards tightening monetary policy, according to Reuters. Gold experienced a decrease in …
Algeria - The National Insurance Company announced in a statement today, Thursday, that it has obtained two global accreditation certificates and renewed the compliance certificate 'ISO 9001:2015', expanding its scope, so that the Quality Management System (QMS) is now comprehensive for all the company's structures and its commercial network at the national level.
The 'Bank of Algeria' is behind the adoption of the new system to bring banking services closer to customers, reducing 4 hours on Thursday and reorganizing work to ensure compliance with the legal working hours. Bank branches and financial institutions in Algeria will start operating on Saturday from July 10, 2026, according to a weekly duty system that extends from 9 AM to noon, in implementation of instructions issued by the Bank of Algeria aimed at improving customer access to banking services. The measure includes various banking institutions across the country, with a reorganization of the working hours of the employees involved in the duty to ensure compliance with the legal working hours. This decision comes as part of enhancing the continuity of banking services...
The Professional Association of Banks and Financial Institutions (ABAF) informed its executive directors, in an official correspondence numbered 448/2026 dated June 17, 2026, in Algiers, of the necessity to start organizing banking services on Saturday from 09:00 to 12:00 for the benefit of customers. The correspondence, addressed to 'the general managers of banks', which has the subject: 'Regarding the implementation of Saturday services', and refers to a previous correspondence numbered 179/2026 dated 15/06/2026, stated that the association received a letter from the Bank of Algeria as part of improving citizens' access to banking services and facilitating their financial transactions. Read the full content on Echourouk Online.