The Bank of Algeria is the central bank of Algeria. The bank is located in Algiers and its currency is Algerian dinar.

The Central Bank of Algeria was established by Act No. 62-144 passed by the Constituent Assembly December 13, 1962, establishing and fixing the statutes of the Central Bank.

Adjustments were made during the 70s and early 80s. Reforming the financial system, both in its management and in its powers, however became imperative.

Law No. 86-12 of August 19, 1986 concerning the system of banks marks the start of the Algerian banking system overhaul.

Thus the Central Bank covers prerogatives in defining and implementing monetary policy and credit, along with what were reviewed its relationship with the Treasury.

These developments, however, proved ill-adapted to new socio-economic context marked by deep reforms.

Law No. 90-10 of April 14, 1990 as amended and supplemented on the currency and credit would completely redefine the configuration of the Algerian banking system. The law thus gives broad autonomy, both organic and functional at the Central Bank, now called the Bank of Algeria.

Management, administration and supervision of the Bank are carried respectively by the Governor, the Board of Directors, chaired by the Governor and two censors. The Board of Directors consists of three Vice-Governors and three top officials appointed for their expertise in economics and finance.

The Governor is appointed by presidential decree. The three Vice-Governors are appointed under the same conditions. The other members of the Board are appointed by executive decree.

The censors are appointed by presidential decree on the proposal of Minister of Finance. The Board of Directors has recognized the traditional prerogatives of this body type.

The Bank of Algeria’s mission is to maintain in the field of currency, credit and foreign exchange, the conditions most conducive to an orderly development of the economy.

The Bank of Algeria sets the conditions under which banks and financial institutions in Algeria and abroad can be allowed to be in Algeria and to operate there.

It establishes, moreover, the conditions under which such authority may be amended or withdrawn. The Bank of Algeria sets all the standards that each bank must comply at all times, including those relating to:

• ratios Banking;
• liquidity ratios;
• the use of capital — risks in general, etc.;

To carry out its missions, the Bank of Algeria is centrally organized by:

• Seven Directorates General dealing with studies departments, inspection and banking:
  • Directorate General for Research;
  • General Directorate of General Inspection;
  • General Directorate of Credit and Banking Regulation;
  • Directorate General of Foreign Exchange Control;
  • Directorate General for General Fund;
  • General Directorate of External Financial Relations;
  • Directorate General Network;
• Two General Directorates managing specific aspects related to the issuance of banknotes and bank training, they are:
  • Directorate General of the Mint (Printing and strikes);
  • Directorate General of Higher School of Bank which supports the training function and the retraining of the entire banking sector;
• Two Directorate General responsible for administration and resources of the Bank, they are:
  • the Human Resources Department;
  • Branch Administration Means;

It further provides a network of 48 branches and offices, ensuring an effective presence in each of wilayas: Agencies and branches are coordinated by three regional offices located in the cities of Algiers, Oran and Annaba.

A staff of nearly 3,000 agents contributes at all levels to achieve the objectives of the Bank.

An extensive program of modernization of equipment and working methods and a training program have been implemented to allow the Bank of Algeria to respond and ensure that the banking system generally meets the requirements of new context, both nationally and internationally.

A cell responsible for the implementation of the project „payment system” is installed since the end of 2001.

Useful links

Currency of Algeria:

Algerian dinar

List of Central Banks:

Central Banks

Official website of Bank of Algeria:

www.bank-of-algeria.dz

Algerian Ministry of Finance:

www.mf.gov.dz

The Algerian Stock Exchange:

www.sgbv.dz