Algeria : facilitated procedures for employees to buy houses

Algerian Minister of Finance, Karim Djoudi, revealed to Echorouk that his minister will begun examining mechanisms to allow wotkers benefiting from various segments, from the bank loans to buy houses, as opposed to interest rates which do not exceed 3 percent of the granted loans.

• The procedure will include the the largest possible number of employees and these loans will finance  houses purchasing, consturction and expansion works, the minister added.
• According to him, the new measures will be accessible for all staff categories as well.
• In an exclusive statement to Echorouk, Djoudi said that the orders issued by the President about the application of the procedure for reducing the interest rates of loans directed to staff who wish to own houses to the minimum which required studies, and examination of mechanisms to ensure the ways to cover the difference between the interest rates, which are approved by the financial and banking institutions, and the ratio of 3 percent, which was identified by the Algerian president as the highest proportion.