ALGIERS – Tuesday, 31 October 2023 (APS) – The two Algerian banks inaugurated last September in Mauritania and Senegal began operations on Tuesday, while another will be inaugurated in Ivory Coast by the end of the year, announced Finance Minister Laaziz Faid.


Speaking to the press on the sidelines of an Information Day organized in Algiers by the Professional Association of Banks and Financial Institutions (ABEF), themed “Financial Inclusion in the Digital Era: Challenges and Prospects,” to mark World Savings Day (October 31).

Two Algerian banks were officially inaugurated by the Minister of Finance on September 20 and 21, as part of the promotion of intra-African trade, namely the Algerian Union Bank (AUB) in the Mauritanian capital Nouakchott and the Algerian Bank of Senegal in Dakar, which opened today.

A third Algerian bank, initiated like the first two by a consortium of four public banks, will be inaugurated in Abidjan before the end of 2023, according to Faid.

In addition, the Algerian bank to be set up in the French capital, Paris, will be inaugurated “in the coming months,” he continued.

The Minister also announced that the new Algerian customs information system would be launched “in the next few days.”

This new system, the first tests of which were carried out in early 2023, should facilitate customs clearance operations, disseminate information on foreign trade, establish transparency and develop mechanisms to combat fraud and smuggling, as part of its contribution to the development of the national economy.

The Information Day also featured a presentation on the National Financial Education Program, launched last September.

In a panel discussion on digital transformation and financial culture, ABEF General Delegate Rachid Belaid explained that the program included the launch of an electronic platform in April 2024, designed to popularize banking and financial concepts for the general public.