About Bank of Algeria
The Central Bank of Algeria was created by law number 62-144 passed by the Constituent Assembly on December 13, 1962, creating and fixing the statutes of the Central Bank.
Adjustments were made during the 1970s and the beginning of the 1980s. The reform of the financial system, both in its mode of management and in its attributions, nevertheless became imperative.
Law No. 86-12 of August 19, 1986 on the banking system marks the beginning of the overhaul of the Algerian banking system.
Thus the Central Bank recovers prerogatives in terms of definition and application of monetary and credit policy, at the same time as its relations with the Public Treasury were reviewed.
However, these developments proved to be poorly adapted to the new socio-economic context marked by profound reforms.
Law No. 90-10 of April 14, 1990, amended and supplemented, relating to money and credit was to completely redefine the configuration of the Algerian banking system.…..Continue reading about Bank of Algeria here.