Regulatory AlertsAlgeria: fintech & payments regulation
RestrictedAlgeria: No specific fintech license; payments regulated under banking secrecy and forex controls
- Lead regulator
- Bank of Algeria (BNA)
- Also involved
- Ministry of Finance (Forex) · Ministry of Digital Transition
- Core law
- Law No. 06-02 on Payment Systems (2006)
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- Custody by licensed banks only
- Data protection
- Law 18-07 · ANPD
- Sandbox
- No
Algeria does not have a dedicated fintech or VASP licensing regime. Payment activities are strictly reserved for licensed banks and payment institutions under the Bank of Algeria. Cross-border transactions are heavily restricted by foreign exchange laws. The provided documents relate exclusively to securities (COSOB) and are irrelevant to fintech/payments.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Institution License Reserved for licensed banks/payment institutions | — | — | Bank of Algeria |
| E-money & wallet issuance | LicencePayment Institution License E-money issuance requires specific authorization | — | — | Bank of Algeria |
| Domestic money transfer | LicencePayment Institution License Domestic transfers restricted to licensed entities | — | — | Bank of Algeria |
| Cross-border remittance | LicencePayment Institution License Cross-border flows strictly controlled by forex rules | — | — | Bank of Algeria |
| Agent network | LicencePayment Institution License Agent networks require principal's license | — | — | Bank of Algeria |
| Open banking / account information | Uncertainverify with regulator No open banking framework exists | — | — | — |
| Foreign-exchange services | LicenceForex Dealer License Strictly controlled by central bank | — | — | Bank of Algeria |
Market-entry checklist
- 1Verify banking license requirementConfirm if your activity requires a full banking or payment institution license from the Bank of Algeria.
- 2Check forex restrictionsReview current foreign exchange controls for any cross-border fund movements.
- 3Assess data localizationEnsure compliance with Law 18-07 regarding data storage and transfer.
- 4Engage local counselHire a local lawyer to navigate the opaque licensing process.