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Jean-Guy LARRIVIÈRE
Head of International Desk Africa, Middle East

Support by the
Crédit Agricole group

Last updated: August 2024

The International Desk for Africa, Maghreb, and Middle-East provides support to the Group’s business clients in Algeria for the implementation of their operations on location, particularly with opening accounts and providing local financing in algerian dinar. Since the closure of Crédit Agricole CIB Alger at the start of 2021, depending on the client's needs and our competing banks in the country of origin, it makes use of local frontline partner banks offering a significant network of offices. 

For non-banking services, the International Desk offers the support of partners as well as expertise in business internationalisation.

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Means of payment

With Algeria

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common / Not recommended

Weak / Not recommended

None / Not rcommended

Common / Not recommended

Common

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Advice from the
international desk

General Information

Doing business in Algeria requires investing time, particularly to learn about the regulatory environment and follow developments in each new finance law and amendments.

In terms of location, the 49/51 rule was repealed in 2020 for resident commercial companies operating in a sector of activity considered non-strategic. It is essential to rely on a local firm for the formalities of setting up a company.

Import regulations are complex and have undergone several successive modifications in recent years. An organization, ALGEX, has been set up and is a must for all Algerian importers who must obtain an import license. It reflects the government's desire to give a priority for structuring projects, to encourage local production and limit imports in a context of budgetary restrictions and exchange controls.

If Algeria offers many opportunities, and should continue with oil prices maintaining a level between 80 and 100 USD/barrel, we must not forget that competition is present and that the quality of personal relationship is important.

 

Means of Payment & Banking Specificities

According to the regulations currently in force, payment for imports can be made by documentary credit, by documentary remittance or by transfer. In practice, the deposit is authorized up to 15% against issuance of a deposit refund guarantee.

Please note that whatever the method of payment, any import of goods or services must be domiciled with an approved establishment, a bank. The certificate of free movement is required for any request for domiciliation.

A regulatory provision requires economic operators to insure imports with insurance companies approved in Algeria. Furthermore, the FOB incoterm has been strongly recommended since January 1, 2020 and its use is now largely used in imports.

Regardless of the regulatory aspect, it is strongly recommended to remain within the framework of a secure payment via a confirmed documentary credit.

In the event that a customer still uses the documentary remittance and it remains unpaid, it is absolutely necessary to indicate the number of the bank branch concerned when contacting the Algerian presenting bank.

 

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