Bank of Algeria
Native name | بنك الجزائر |
|---|---|
| Company type | Central bank |
| Industry | Banking, Financial services |
| Founded | 1962 |
| Founder | Seghir Mostefai |
| Headquarters | Algiers , Algeria |
Key people | Salah Eddine Taleb (Governor) |
| Products | Currency issuance, Banking regulation |
The Bank of Algeria (, ) functions as the central bank of Algeria, with its main office located in Algiers. It was founded in 1962 by Seghir Mostefai shortly after the country's independence, replacing the former colonial institution, Banque de l'Algérie. The current governor leading the bank is Salah Eddine Taleb.
History
In the aftermath of independence, a 1962 accord transferred the authority to issue currency from Banque de l'Algérie to the newly created Bank of Algeria. This transition included financial agreements between the Algerian and French Treasuries, as well as ongoing technical assistance from the Bank of France. The Bank of Algeria oversees the regulation of banking activities within the nation, establishing criteria for licensing financial entities and holding the power to modify or withdraw these licenses. Among its regulatory measures, it implemented anti-money laundering rules mandating banks to open accounts only in the physical presence of the account holder. Nevertheless, nearly fifty percent of Algeria’s currency circulation remains outside formal banking channels, largely due to a lack of stability in commercial banking. Since 2022, Salah Eddine Taleb has been serving as the governor.
Governors
- Seghir Mostefaï, 1962–1981
- Mahfoud Aoufi, 1981–1982
- Rachid Bouraoui, 1982–1985
- Bader Eddine Nouioua, 1985–1989
- , 1989–1992
- Abdelwahab Keramane, 1992–2001
- Mohamed Laksaci, 2001–31 May 2016
- , 31 May 2016–31 March 2019
- Amar Hiouani (Interim), April 2019
- Aïmene Benabderrahmane, 14 November 2019–23 July 2020
- Rosthom Fadli (Interim), June 2020
- Rosthom Fadli, September 2020–23 May 2022
- Salah Eddine Taleb, 23 May 2022–present
See also
- Algerian dinar – The national currency of Algeria
- Central banks and currencies of Africa
- Economy of Algeria
- List of central banks
- List of banks in the Arab world