Bank of Algeria

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name: Bank of Algeria

hot: 2430



Bank of Algeria is the central bank of Algeria, headquartered in Algiers, and its current president is Mohammed Laksaci. Its organizations include: De La Monet and Credit Committee, BANCAIRE Committee (Banking Supervision Committee) and the Bank of Algeria itself.

On December 13, 1962, the Algerian Constituent Assembly passed Law No. 62-144 to establish and confirm the status of the Central Bank of Algeria. In the 1970s and early 1980s, the Algerian government reformed the banking financial system, especially the bank management power became a top priority.

On August 19, 1986, the Algerian Constituent Assembly passed the Banking Organization Act No. 86-12, which marked the upcoming reform of the Algerian banking system. It has the function of issuing and stabilizing Algeria’s monetary and credit policies.

On April 14, 1990, the amendment to Law No. 90-10 added money and credit, which will completely redefine the configuration of the Algerian banking system. Therefore, Algerian law grants it extensive autonomy and functional rights.

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