BNA's Director To Echorouk: “Employees To Benefit From Consumer Loans On August”

Algeria Bank concluded a set of agreements with public and private institutions to finance the consumer loans for employees for the acquisition of “Symbol” cars and all products that are in the list of products that are included in the loan consumer by the beginning of August, General Manager of the National Bank of Algeria, Achour Abboud, told Echorouk.

“Algeria bank is currently in the phase of selecting the institutions that will be revealed next week and that according to the wages of employees and their financial abilities”.

“Consumer loan was delayed at the BNA for regulatory reasons. All the loan details, in terms of legislation and financial liquidity are ready, but the final version of which we will accordingly launch the sale with instalment for the benefit of customers, who will be different this time compared to the other banks, as the BNA will be contracting with institutions that contain employees, which will negotiate to bring in the customers’ files at once and provide the necessary guarantees, instead of negotiating with each customer individually”.

“New loan will come into effect starting from the month of August, as it will be possible for thousands of employees across dozens of institutions to buy Renault Symbol cars, building materials, furniture, house equipments through paying in instalments via the National Bank of Algeria, which will ensure the financing of the operation. This loan had to enter into effect from the beginning of the month of January, but the project was delayed relatively, because of the full-time at the National Bank of Algeria, for the success of the bond loan of economic growth, which had in the last period a large attention, given that the government has been relying strongly on it “.

“We are not afraid to compete with private banks, which launched the consumer loan since months ago, as the category and customers that are targeted by the BNA are not the same, because private and foreign banks aimed primarily individuals and retail markets, rather than institutions. BNA will provide good offers that are accessible to the Algerian employees, and will discuss this with enterprises’ managers”.