Regulatory Alerts2023-08-21
Monetary and Banking Law No. 23-09 of June 21, 2023
The President of the People's Democratic Republic of Algeria promulgated Monetary and Banking Law No. 23-09 on June 21, 2023, to restructure and modernize the nation's financial framework. The legislation establishes the Bank of Algeria as an autonomous commercial entity with exclusive currency issuance powers, introduces a Central Bank Digital Currency (Dinar Algérien Digital), and defines comprehensive governance, supervision, and operational mandates for monetary policy, banking oversight, and financial stability. It further codifies criminal sanctions, capital movement regulations, and specialized committees to ensure robust oversight of banks, financial institutions, and obligated entities.
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