Consumer Loans to be readopted soon

Commerce Minister, Mostapha Ben Bada, revealed on Tuesday, the preparation of a draft executive decree that sets out the regulatory framework for the return of the consumer loan, hoping this proposal will be approved during the tripartite works, which is scheduled for the month of February 2015.

“Draft decree that is proposed by the group that works to upgrade and develop the national product, which emerged from the recent tripartite meeting that identifies and explains the details and the outline of this loan that is oriented for the national product, like adjusting the list of the concerned products and institutions that are interested in this type of loans.

Ben Bada expressed, on the sidelines of an evaluation meeting, which brought him with the local managers of the sector, his hope for the ratification of these suggestions, during the trilateral works that are scheduled in the second half of February, to be included in the Supplementary Finance Law for 2014.

With regard to dealing with instruments in commercial transactions, the minister stressed that this process is “a very important additional mechanism in regulating business transactions and ensuring transparency. There is a need to expedite the application with instruments, citing Algeria’s underdevelopment in this area.

“In 2012, Trade Ministry provided written proposals to the Finance Ministry to determine how to handle the return of working with instruments that are included in a list of domains, services and goods”.

For his part, Secretary-General of the General Union of Algerian Workers, Abdelmadjid Sidi Said, announced, on Tuesday the possibility of a trilateral meeting in February 2012.

APS quoted Sidi Said as saying, on the sidelines of a ceremony to revive the 17th anniversary of the assassination of former Secretary General Abdelhak Ben Hamouda; “Tripartite is likely to meet on February, and the date, which will be determined by the Prime Minister, in his capacity as Chairman of this tripartite, remains subject to consultation with the social partners and representatives of employers as usual”.