Algerian Radio
The Governor of the Bank of Algeria, Mr. Mohamed Lamine Lebbou, chaired this Sunday in Algiers a meeting with the executives of all commercial banks active in the banking sector. The meeting focused on the outcomes of banking activity, evaluating monetary policy measures, accelerating the pace of financial inclusion and electronic payment, as well as the strategic challenges facing the sector, according to a statement by the Bank of Algeria.
This high-level regular meeting, which took place in the presence of the Vice-Governors and senior officials of the Bank of Algeria, falls within the framework of the continuous dialogue between the monetary authority and actors in the banking sector, with the aim of assessing the recent performance of the national banking system and outlining its development prospects.
During the meeting, Mr. Lebbou presented a report on the recent developments in banking activity, where sectoral indicators show reinforcement in the process of mobilizing resources and a continuous commitment to financing the economy.
The Bank of Algeria also reviewed the recently implemented monetary policy measures, which aim to ensure price stability while maintaining optimal financing conditions to support national production and preserve financial stability, according to the same source.
Special focus was placed on the digital transformation of the sector, considering it a fundamental lever for financial inclusion, particularly regarding matters related to the modernization of payment systems and means, the statement added.
In this regard, the Bank of Algeria called on commercial banks to diversify their products, improve the quality of local services, and facilitate access to financial services for all citizens and enterprises across the entire national territory.
In conclusion, the source indicated, the Governor stressed the importance that the Bank of Algeria attaches to the implementation of its directives, ensuring the transformation and modernization of the banking system in order to achieve better inclusion and resilience in service of national economic development.
