Algerians lend banks 2,000 billion in a week

Director of Algeria’s Exterior Bank Mohamed Loukal Monday said public banks collected 2,000 in a week as part of documentary credit operation. He described it as “positive and encouraging.”

The director said it is difficult to judge the operation as it was exposed to criticism. 

Local Development Bank’s Director said the operation is open for all the citizens and it is still in its beginning. “Many people do not know what is a documentary credit. Because of that, there is a need for awareness-raising campaigns to explain the operation.”

Representative of Algeria’s Post said 500 operations are conducted everyday as part of documentary credit. “This is encouraging and will pave the way to a larger number of interested people in the next few days.”