Business law changes, compliance, and regulatory updates
Algeria - The Minister of State, Minister of Hydrocarbons, Mohamed Arkab, presided today, Monday, in Algiers, over the appointment of Abdelkader Cherfaoui as the new acting president of the National Agency for the Valorization of Hydrocarbon Resources 'النفط', succeeding Samir Bakhti.
Algeria - The Bank of Algeria issued a directive today, Monday, outlining the procedures for granting exchange rights for travel abroad via bank card.
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...
On Monday, the Minister of State and Minister of Hydrocarbons, Mohamed Arkab, oversaw the inauguration ceremony of Abdelkader Cherfaoui as Acting President of the National Agency for the Valorization of Hydrocarbon Resources, succeeding his predecessor Samir Bakhti. The Minister of State confirmed in a speech delivered on this occasion that 'this appointment comes within the framework of the ongoing dynamics witnessed by the hydrocarbon sector, embodying the strategic vision of the President of the Republic.'
The Ministry of Interior, Local Communities, and Transport clarified, following discussions on social media regarding the unsuitability of red watermelon for consumption, that 'the results of the laboratory analyses conducted categorically deny the claims that have been circulated.'
Today, Monday in Algiers, the Minister of State, Minister of Energy, Mohamed Arkab, oversaw the appointment of Abdelkader Cherfaoui as the new head of the National Agency for Hydrocarbon Resources 'Alnaft', succeeding Samir Bakhti.
The inauguration ceremony was held in the presence of the CEO of SONATRACH.
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.
The Director General of the National Laboratory for Experiments at the Ministry of Internal Trade and National Market Regulation, Nawal Nasib, revealed that more than 90 percent of the materials tested and analyzed by the national laboratory comply with standards. Nawal Nasib confirmed during her appearance on the program 'Guest of the Morning' on the second radio channel that monitoring agents are present at ports, manufacturing, and sales points to ensure product quality for consumer protection and to combat fraud.
Today, Monday, in Algiers, the Minister of State, Minister of Hydrocarbons, Mohamed Arkab, oversaw the appointment of Abdelkader Cherfaoui as the new president of the National Agency for the Valorization of Hydrocarbon Resources 'Alnaft', succeeding Samir Bakhti.
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