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Come back on Algeria and its banking system
The Algerian banking system was born in 1962 and has evoluated through different stages.
The activities
The Bank essentially works with small and medium size companies, it also propose some services to standards individuals and has a specific range of products and services for the high net worth clients.
(We will see the mains activities on discussion item)
The Regulatory Context
Given there is no specific regulation for Islamic Finance in Algeria, it is the conventional regulation protocol which applies to any banking activity.
The regulation rules are defined according the below categories of requirements:
1- Formal Requirements
2- Authorisations & Licences Requirements
3- Internal controls
4- Mandatory declarations
5- Mandatory prudential controls
6- Rules of good behaviour
7- Bank Secrecy
8- The Tax requirements
The activities
The Products & Services
All the below P & S provided are shari'a compliant and approved by the Shari'a board on a case by case basis.
The Market
According to the previous Directeur General Statement: " Algeria is the most promising market both in the North Africa and the whole continent". (Source : Al Maghreb Newspaper).
The Clients
A banking system that respects the principles of the Shari'a in its activities providing products or services.
-> The Islamic Investment Banking
Investment banks raise capital for big companies through securities operations in the financial markets, they coordinate fusions - acquisitions and they provide advisory and complex analyses service on various instruments like islamic funds, islamic private equity, real estate, syndicated lending, sukuks etc...
-> The Corporate Banking
It consists in managing the corporations or businesses by responding to their financial and banking needs.
-> The Wealth Management
This activity of the Bank is a combination of personal investment management, financial advisory, and planning disciplines directly for the benefit of high-net-worth clients by constructing them an entire investment portfolio and advises financially on how to prepare for present and future financial needs.
Algeria and Al Salam Bank History
Composition of Algerian Banks Deposits
Creation of the Algerian Dinar and the Central bank of Algeria.
Prescription n 10-04 of August 26th, 2010 concerning the monetary policy and also the credit activities : the foreign participations in banks can be authorized only within the framework of a partnership with resident national shareholders of which represents 51 % at least of the capital.
Law 90-10 of April 14th, 1990 is going to open the activity to the national but also foreign private capital structures.
Going forward, several big foreign banks implant a branch (BNP, SG...) as well as financial institutions (Arab leasing corporation, Cetelem of Algeria).
- Autonomy of the central bank which becomes the bank of Algeria
- Separation between the regulatory authority of the banks and the authority of supervision.
- Banking monopoly on bank transactions. The activity maybe exercised only by banks or financial institutions. It is the bank responsability to choose its model of universal bank or specialized financial institution.
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Until the end of the 60s, the banking industry consisted essentially of private and foreign operators but at the end of this period, it becomes exclusively public.
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2009
2001
2010
1990
1962
The government proceeds to a restructuring of both the public large companies, and the banks which are transformed into joint-stock companies subject to the Commercial Law Code.
Law of complementary finance in 2009: Setup of a partnership protocol as a modality to facilitate the foreign investors placements.
In January 2015, in Algeria:
- 20 banks ( 6 public banks and 14 private)
- 9 financial institutions
- 7 Foreign represantative Banks
- Ibrahim Asnoun
- Christophe Barthélémy
- Mokrane HACENE
The bank activities and the regulatory framework
http://afrique.lepoint.fr/economie/finance-islamique-l-algerie-se-jette-a-l-eau-16-06-2016-2047193_2258.php
Market & Clients
Economic Analyses & Competitors
Core Business, Products & Services
Economic Analyses & Competitors