Hard Currency Bonds to Be Sold Soon, Interest Is Guaranteed

Algeria External Bank in coordination with the Finance Ministry and the various banking institutions is studying the possibility of selling hard currency bonds soon, in a timely manner, to enable members of the Algerian community who are living abroad and the various businessmen and institutions to buy hard currency bonds, General Manager of Algeria External Bank, Mohamed Loukale, said.

“Offering hard currency bonds comes after the growing demands by subscribers to buy this type of bonds, as it enters in the framework of the efforts of the bank and the Finance Ministry to strengthen the bank’s reserves of hard currency.”

Mohamed Loukale told Echorouk, on the sidelines of the activities of the press conference on the economic growth and loan bonds’ project, on Thursday, in Skikda (eastern Algeria), that the Eternal Bank was able to attract about 35 billion ZDZ, during the first three weeks of applying the bonds’ loan, and projections which suggest that the number will double, due to the increasing level of demand for at the bank’s agencies in various provinces.

“Loan bonds’ funds will be directed to complete the development and productive investment projects that are beneficial to the state and its partners, and these projects are the completion of a number of ports and the North-South Highway.” He referred to the efforts of this bank to open offices and agencies in a number of foreign countries, through the development of the bank’s performance and affective participation in investment projects, and developing the bank’s treasury, in order to keep pace with the global standards of international banks.