Algerian government issues new stringent guidelines for control of bank surplus liquidities

At the behest of the government, the Governor of the Bank of Algeria, Mohamed Leksaci, has announced a set of new stringent measures aimed at closely monitoring the use and circulation of the surplus liquidities held by the public and private commercial Banks in Algeria.

•  The overall amount of the surplus liquidities held in the coffers of these Banks is estimated at around 1.100 billion dinars.
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• Governor Leksaci indicated that a new monitoring system would be set up shortly at the level of the Banks concerned in order to ensure the use of these huge money liquidities in the most appropriate way likely to spur the national economy in various fields of endeavour.
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• Reliable sources told Echorouk that Governor Leksaci brought together earlier this week in a broad-based meeting in Algiers the heads of public and private Banks to outline this new banking strategy and to brief them of the authorities’ new action plan aimed at ensuring the use of all the surplus liquidities soundly in order to better serve the national economic apparatus and to make it yield tangible spin-offs.
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