700 billion centimes (DA) to finance purchase of Algerian-made “Symbol” and “Hyundai” cars within a year

Several Banks have granted consumer loans reaching 700 billion centimes (DA) in a matter of one year to finance the acquisition of “Hyundai” and “Symbol” cars manufactured in Algeria while the value of the global consumer loans since the launch of the relevant banking operations have totaled around 900 billion centimes (DA) .

The Chairman of the Professional Association of Banks and Financial Institutions, Mr Boualem Djebbar, referred in this line to the distribution of banks loans equivalent to 700 billion centimes to many Algerian citizens  to allow them to finance the purchase of Algerian-made “Symbol” and “Hyundai” vehicles, in addition to the granting of other banking loans totaling around 200 billion centimes (DA)  destined to the acquisition of home furniture,  household appliances and building materials produced in Algeria itself.

Mr Boualem Djebbar told “Echorouk” on Wednesday outside the Algerian-Saudi business council’s proceedings held in Algiers that the banking loans were also expected to be expanded to be included  in a list of eight other  varieties of locally-manufactured commodities which could attract the interest of the Algerian consumers  from all walks of life.

Our interlocutor also indicated that the banks are steadily striving on a daily basis to ensure the dissemination of the flexible electronic payment system across all the national banking network through newly-devised smart cards which are meant to be widely used in future consumer loan financing process.