Algeria : 112 benefited from one billion and 400 millions Euros transferred money of Khalifa

Investigation in the hard currency money case relating to Khalifa Bank showed the involvment of many officials including an Algerian former finance minister. The transferred money was estimated at 1 billion and 400 million Euros in the account of Abdelmoumene Khalifa’s account, Ghazi Kebbache who was in charge of Khalifa Airways.  The liquidator used CD-Rom to find out the smuggled money Change Director at Khalifa Bank played a big role in discovering the truth on the transfer issue. The CD-Rom of this system included the names of beneficiaries.A list of bulletins and other documents belonging to those who benefited from magnetic cards and money from the bank as well as transferred money through Lebanese and French banks.The CD showed a list of 112 beneficiaries from the money in hard currency. Most of them are Algerians living abroad or have dual citizenship including former ministers, top officials’ son and artists.   Most important money transfers  Figures show that Khalifa Bank carried out 191 transfer operations in 1998 worth of a billion and 42 million Algerian dinars. In 1999, a total of 13.309 billion DA were transferred in 3,421 operations while 28.58 DA were transferred in 2000.In 2001, the bank carried out 11,159 operations in addition to 15,178 transfer operations worth of 58 billion DA in 2002.