Algeria: Banking Solvency Ratio Set At 24% In 2011 Year-End

The twenty national and foreign banks operating in Algeria largely respect the cautionary rules with the overall banking ratio reaching 24% by the end of 2011, Governor of Bank of Algeria, Mohamed Laksaci said Thursday in Algie

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• He described this solvency ratio of 24% in the Algeria banking sector as appreciable compared to crisis-hit countries in other parts of the world where such a ratio is much lower.

• Mr Laksaci further announced that the Bank of Algeria would host the 36^th Ordinary Meeting of the AACB Assembly of Governors, scheduled for August 2012.

• In compliance with the principle of rotation of Annual Meetings of the Association of African Central Banks (AACB), the Assembly of Governors decided at the end of its 35^th Ordinary Meeting, held in Lilongwe, Malawi, that the next 36^th Ordinary Meeting of the Assembly of Governors and the Governors’ Symposium, scheduled for August 2012, shall be hosted by a Central Bank member of the Northern Africa Sub-region, Mr Laksaci indicated.

• After consultations between the member Central Banks of this Sub-region, the application of the Bank of Algeria has been designated to host these meetings, he added.

• As a result, the Governor of the Bank of Algeria, Mr. Mohamed Laksaci, becomes the Vice-chairperson of the AACB.