Algeria exempts AADL agency from banking loans interest

Financial Act 2018 set new procedures related to AADL housing agency including banking loans exemption from interests.

The law established many new procedures to modernize fiscal legislation and adapt it with Algeria’s financial situation. Of them, the State imposes wealth tax.

Financial Act 2018 was passed by cabinet on Wednesday.

The draft law includes many provisions in favor of people including the exemption of AADL’s banking loans from interest to fund the construction of 120,000 houses.

President of the Republic said the draft law will provide necessary means to execute the action plan which had been passed by Parliament.