Algerian Bank decides coercive measures against bouncing cheques in future

The Algerian bank governor ordered a new system as preventive measures against the issue of bouncing cheques, extending sanctions to a five year ban for individuals found guilty of this fraudulent operation.

• These measures will put an end to this growing phenomenon over the years and several financial institutions will cooperate in the implementation of this system including the banks, the treasury and Algerian post offices.
• The new measures insist on informing all the victims by no later than 10 days time.