Regulatory Alerts2003-08-26
Ordinance No. 03-11 of August 26, 2003 on Money and Credit
The President of the Republic issued Ordinance No. 03-11 on August 26, 2003, to establish the comprehensive legal framework governing Algeria’s monetary system and credit operations. The legislation designates the Bank of Algeria as the exclusive issuer of fiduciary currency, grants it full financial and operational autonomy, and defines its executive governance, including the Governor’s powers and the Board of Directors’ oversight. It further codifies the Bank’s core mandates to regulate currency circulation, manage foreign exchange reserves, control credit distribution, and ensure monetary stability while granting specific fiscal exemptions and legal privileges.
Share