Regulating Financial Institutions in Algeria: A Complex History

The Central Bank of Algeria has undergone significant changes since its establishment by Law No 62-144 in 1962. Here, we take a look at the key developments that have shaped the regulatory framework for financial institutions in Algeria.

Early Years and Amendments (1960s-1980s)

• The Central Bank of Algeria was initially set up to regulate and supervise the country’s financial system.
• In the 1970s and early 1980s, amendments were made to its statutes, paving the way for future reforms.

Major Overhaul (1990)

Law No 90-10 marked a significant turning point in Algeria’s banking history. Key reforms introduced during this period include:

• Modernizing the country’s financial architecture
• Paving the way for a more robust regulatory framework

Strengthening Regulations (2003)

Ordinance No 03-11 further refined regulations governing currency and credit, taking significant steps towards establishing a more stable and transparent financial environment in Algeria.

Challenges Persist

Despite these efforts, challenges persist in regulating financial institutions in Algeria. The country’s complex banking system remains a subject of debate among experts and policymakers.

Conclusion

As the Central Bank continues to navigate this landscape, one thing is clear: effective regulation will be crucial in ensuring the stability and growth of Algeria’s economy.