Chamber

The United Bank of Algeria was created due to Constituent Act establishing and fixing the statutes of the United Bank.
Adjustments were made during the 70s and early 80s. Reforming the financial system, both in its management and in its function, however, became imperative.
Bank started to redesign the Algerian banking system.

Thus the United Bank covers prerogatives in defining and implementing monetary policy and credit.
These developments, however, proved ill-adapted to new socio-economic context marked by deep reforms.

In 90th years the law amended and supplemented on the currency and credit would completely redefine the configuration of the Algerian banking system.

The law confers broad autonomy, both organic and functional at the United Bank, now called Bank of Algeria.

The management, administration and supervision of the Bank are carried respectively by the Governor, the Board of Directors, chaired by the Governor and two censors. The Board is composed of three Vice-Governors and three top officials appointed for their expertise in economic and financial matters.

The Governor is appointed by presidential decree. The three Vice-Governors are appointed under the same conditions. The other members of the Board are appointed by executive decree.

The Board of Directors has recognized the traditional prerogatives to an organ of this type.

ROLE AND FUNCTIONS

The Bank of Algeria’s mission is to maintain the field of currency, credit and foreign exchange, the conditions most conducive to an orderly development of the economy.

The United Bank of Algeria sets the terms under which banks and financial institutions in Algeria and can function within Algeria.

It also establishes the conditions under which such authority may be amended or withdrawn.

The Bank of Algeria sets all the following standards: bank must comply at all times, including those relating to:

  • Ratios Banking
  • Liquidity ratios
  • The use of capital – risk in general, etc.

ORGANIZATION

To carry out its missions, the Bank of Algeria is centrally organized by:

1 – Seven (7) Directorates General dealing with studies departments, inspection and banking

  • Directorate General for Research
  • Directorate General of the Inspectorate General
  • General Directorate of Credit and Banking Regulation
  • Directorate General of Foreign Exchange Control
  • Directorate General of the General Fund
  • Directorate General for External Financial Relations
  • Directorate General Network

Two (2) of the guidelines for managing specific aspects related to the issuance of banknotes and bank training, they are:

  • Directorate General of the Mint (Printing and strikes)
  • Directorate General of the Higher School of Bank which supports the training function and the retraining of the entire banking sector.

2 – Two (2) Directorate General responsible for the management and administrative resources of the Bank, these are:

  • Directorate of Human Resources
  • Directorate of Administration of Means

It further provides a network of 48 branches and branches, giving it an effective presence in each wilaya of the country agencies and branches are coordinated by three regional offices located in the cities of Algiers, Oran and Annaba.

A staff of nearly 3,000 employees contributing at all levels to achieve the objectives of the Bank.

An extensive program of equipment modernization, methods of work and a training program have been implemented to allow the Bank of Algeria to respond and ensure that the banking system generally meets the requirements of new context, both nationally and internationally.

A unit responsible for implementation of the “payment system” is installed since the end of 2001.