Algerian MPs criticised the annual report of the Bank of Algeria on the economic situation by the governor of the bank, Mohamed Leksassi, on Thursday, and played down the effectiveness of presenting the proceeds about figures which date back to 2008, while 2009 is overseeing at the end.

•  The MPs stressed on the reconsideration of the date of submission of the annual report for the first financial institution in Algeria, asking for the need to present figures relating to the national economy at the right time, so that the members of the lower house can deal with them in a timely manner.
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• Interventions by the representatives expressed their resentment of the figures presented by Leksassi, and which could have been presented end of 2008 or early 2009 at least, while the lower chamber justified the delay as to enable the deputies discuss the draft finance law, which usually displays at the autumn session, after the report was presented at the spring session.
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• Some of the representatives said that the foreign companies active in Algeria are responsible for the high value of the foreign currency on the black market, confirming that some of these institutions are converting their profits from Algerian dinar in the market to the hard currency in order to transfer them abroad illegally.
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• Mohamed Leksassi promised, in his response to the queries of the MPs, to take necessary action against the parallel currency market and to develop mechanisms to allow lifting of investment loans.
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• Governor of the Bank of Algeria said that the central bank will develop its capacities of control and early detection of weaknesses and fragility of the banks and financial institutions, noting that the end of the year will be the last for the new requirements in the minimum capital that was set by the Monetary Council and Loan on December 2008.