Djebbar: “500 Billion Dinars Of Loans Granted To Algerian Citizens In 2017”

The President of the Association of Professional Banks and Financial Institutions and the President of the Bank of Agriculture and Rural Development, Mr. Boualem Djebbar, revealed on Monday that the loans granted to Algerian citizens amounted to about 500 billion dinars during the course of the year 2017.

 Mr. Djebbar said during a national radio program “Guest of the Morning” that about 98 percent of loans to individuals were directed for the purchase of real estate, while the rest were meant for consumer loans launched in 2016.

He added that loans from more than 75 percent of medium and long-term loans are in total investment loans for large, medium and small-sized  enterprises and even individuals, pointing out that 52 percent of loans are destined to the private sector and 48 percent to the public sector.

The head of the Association of Professional Banks and Financial Institutions said that the banks’ revenues for the year 2017 were positive on the whole. 

The volume of loans increased by 7 percent compared to 2016 that is the equivalent to 8,400 billion dinars, he indicated. 

He also pointed out that the national banks’ relevant work environment remained positive for loans and growth of domestic savings at banking level.

Mr. Boualem Djebbar further unveiled new measures for the benefit of the youth employment operators “ANSEJ” to ease the burdens and provide a new opportunity for the payment debt defaulters before 2011. 

A mechanism has been established to allow the rescheduling of these young investors’ debts and the interest of the delay financial penalties and all the accrued benefits provided that the investor formally pledges to repay the loans he had acquired from “ANSEJ”.

With regard to the projected online payment, Mr Djebbar confirmed that the system was launched in October 2016, where all legal and practical matters were set up in three stages to gradually and successfully control and master the relevant technology. 

He further affirmed that Algeria would officially enter the second phase and the third stage dedicated to the generalization of e-commerce, as this file is currently discussed at the parliament level.

Mr. Boualem Djebbar explained that the Finance Law of 2018 will compel all categories of traders and merchants to provide electronic payment method to the customers. 

This brand-new feature will give a great impetus to electronic payment through smart cards thanks to the electronic payment device “TPE” and the number of 12 thousand electronic devices will be distributed at the level of traders who accepted the acquisition of this device in their shops and businesses, he added.