Some foreign financial bureaus are operating illegally in Algeria: expert says

The head of the national chartered accountant and book-keepers commission, Hamdi Mohammed Lamine Tuesday declared that the drat bill regulating the profession, which has been elaborated by some parts within the finance ministry out of sight of its minister, is a severe blow to the country’s economy, in the sense that it gives free way to foreign experts to have an eye on the Algerian companies’ accounts notably the most strategic including banks and other financial institutions.The head of the national chartered accountant and book-keepers commission, Hamdi Mohammed Lamine  Tuesday declared that the drat bill regulating the profession, which has been elaborated by some parts within the finance ministry out of sight of its minister, is a severe blow to the country’s economy, in the sense that it gives free way to foreign experts to have an eye on the Algerian companies’ accounts notably the most strategic including banks and other financial institutions.

According to him, the law if being passed will enable the western countries to use all the means, be it legal or not to proceed to a systematic economic spying on countries operating on the Algerian market that imports more than $ 27 billion of goods and services  annually.

He called on the Algerian government to apply the reciprocity principle in the case where the law is passed and urge foreign companies to work in close collaboration with Algerian experts to fend off any kind of misconduct or spying.

M. Hamdi went on saying that he was not against foreign experts, but will do his utmost to warn the highest authorities in the country of the disastrous consequences of such a procedure and will ask them to limit this function exclusively to Algerian exerts for strategic purposes .