The Bank of Algeria has issued Regulation 24-02, which establishes the minimum capital requirements for banks and financial institutions operating in Algeria.
These requirements must be met by all banks, financial institutions, and branches of foreign banks and financial institutions operating in Algeria. The regulation was published in Official Journal No. 18.
Banks and financial institutions must maintain a minimum capital or legal reserve at all times. The amounts are set as follows:
Regular Banks - 20 billion DZD / $146.8 million.
Digital Banks - 10 billion DZD / $74.2 million.
Other Financial Institutions - 6.5 billion DZD / $48.2 million.
"The minimum capital or legal reserve referred to in Article 2 must be paid in full and in cash before submitting the application for authorization," asserts the regulation signed by the Governor of the Central Bank, Salah-Eddine Taleb.
"All provisions contrary to this Regulation are annulled, including those of Regulation No. 18-03 of (...) 4 November 2018, as amended and supplemented, which relate to the minimum capital of banks and financial institutions operating in Algeria," the text confidently concludes.
Salah Eddine Taleb is an Algerian banker. He has held the position of Governor of the Bank of Algeria since 2022.
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