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The services of the Ministry of Finance are currently working on the creation of an Algerian bank in China, announced Thursday in Nairobi (Kenya), the Minister of Finance, Laaziz Faid, highlighting the role of this type of banking institution in promoting national exports.
“After the opening of Algerian banks in Mauritania and Senegal, we are working towards the opening of another bank in China,” declared Mr. Faid, on the sidelines of his participation in the Annual Meetings of the African Development Bank ( ADB).
Concerning the Algerian bank in Ivory Coast, the Minister of Finance affirmed that studies relating to this promising project are progressing well.
Furthermore, the Algerian bank in France, which recently obtained approval from the French monetary authorities, “must be inaugurated during the current year, after obtaining the necessary authorizations from the European Central Bank (ECB)”.
This BEA subsidiary will open five agencies in French cities where a large Algerian community lives, he adds.
Faid is in Nairobi where he is participating, as representative of the President of the Republic, Mr. Abdelmadjid Tebboune, in the work of the 2024 Annual Meetings of the ADB group, which are being held from May 27 to 31.