The Government Allows Foreign Banks to Have Shares in SMEs Capital

A commission for SMEs is to be installed in the Algiers Stock Exchange to encourage small and middle seized enterprises to open no more than 49 percent of their stakes for local and foreign banks operating in Algeria.

Such a step is part of 200 measures revealed by the government, and which have been recommended by the eight working commissions installed by the tripartite summit held in May, and validated in the summit of September. 

The new measures have defined the conditions under which the profits made out of such operations could be transferred.

The candidate enterprises set for entering the Algiers Stock Exchange market will benefit leveling and assistance by competent experts pertaining to the Ministry of Industry, SMEs and Investment.

Also, Local and national investment funds can, henceforth, have shares in the stake of SMEs.