Algerian Radio
The Bank of Algeria has set a maximum deadline of 48 hours for the domiciliation of goods and services export operations, starting from the receipt of a complete file, according to a note sent on Tuesday to banks as part of measures taken to promote and facilitate exports.
In this new note, the Bank of Algeria specifies that "authorized intermediary banks must prioritize export files by simplifying their internal processing channels, while ensuring strict compliance with this deadline," emphasizing that "any unjustified delay will expose the bank to the strict control measures provided for by the regulations in force."
At the same time, the Bank of Algeria insists on the need for "enhanced vigilance" at the bank level regarding foreign trade.
To this end, banks must "ensure the regularity and consistency of the submitted files, verify strict compliance with the repatriation of export proceeds, and strictly conform to the legal framework on the prevention of money laundering and exchange control violations."
