Algiers: Completing finances



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Algiers: Completing finances

Algiers by: Noureddine RAMZI

According to Bank of Algeria (BA), Bank of Algeria (BA), Bank of Finance and Banking Management, Mohamed Lahbib Koubi, the "nationally-saved" national security standard was estimated at 31% of the cash supply in Algeria " .

Speaking at a & # 39; First Algerian Company on Islamic Insurance and Finance (SAAFI 2018), Mr Koubi added this section of "very high", and suggested that these resources would be drained to the banks to make better funding economic activity particularly in terms of investment. Some even think of "a big competition among financial institutions.

"In a context that is characterized by the lack of normal banking resources, the accumulation of resources through multiplication and changes in savings and funding materials to meet the expectations of both executives and citizens, is an essential requirement for the national economy," said He reports the APS.

In this regard, the officer referred to a new rule to be published in an officially documentary journal, which interpreted the rules that were relevant to the divisional outcomes known as a & # 39; The Council for Money and Credit (CMC).
This system will explain these products and the framework, while & # 39; s they are identifying them from normal banking activities.

Mr Koubi thought this new text, which was developed by the BA, did not have a & # 39; including all partner bank work such as Open Market jobs and interbank business, "more effort is needed to get in with new texts that are consistent with the legal weapon and to keep track of their entire".
To do this, the proposed approach by the BA, based on the principles of the graduation in the application, consultation in the preparation, and the introduction of all economic and social activities .

The manager also felt that the establishment of a joint organizational and accountability framework would be in place; Covering this activity "gives more time and needs long breath and more effort, patience and sustainability".

The success of the crowdfunding program, according to Koubi, is also based on the effectiveness of qualified and trained staff in a "sufficiently and broadly" way.

During a conference, representatives from the banks highlighted the increase in the demand for this type of product, from the success of the banks "Al Baraka" and "Essalem" – only Islamic banks working in Algeria – 270 billion dinars and 100 billion DA.

On its part, the Stock Exchange Management Company (SGBV), Yazid Benmouhoub said that the Algiers Stock Exchange is interested in a sukuk launch, but the legislation in force does not allow two.

The society is currently working with a laboratory from the University of Setif to "develop a new organizational approach to the Trust of Trade and Commerce (COSOB) to protect the production of sugar.

Benmouhoub stressed the position of its stock market in the economy's economy, especially in the context of the reduction in money money with 75% after its expense. oil bumper that suffered Algeria.
It also showed that the Iomlaid Stock Algiers is completely computerized.

N.R

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