“Banks have to assist investors’ projects at the very beginning”
Head of Algerian Investors’ League
Monday Jun 25 2007.
Algerian Investors League head emphasized on the need to setting equality in terms of allocating credits and enforcing files treatment procedures, explaining that the role of Banks is to assist investors’ projects under “Bale” convention principle rather than merely accumulating money.
Mr. Abdelouahab Benzaim said that the bank has the right to request guarantees on credits from investors as securing measures to avoid failure by ensuring a near and realistic attendance to the concerned projects, so that, he added, the investor would become a real partner to the bank and would have thus the right to decide.
Investors League head called for amendment of current laws and the coming legislations as to ensure protection to the bank in terms of management because the problems that emerged on the financial field frightened banks and forced them however to be reserved, and freeze in some cases, on allocating any credit fearing to be responsible of any decision. Mr. Benzaïm concluded however that banks have to sponsor highly efficient projects instead of concentrating credit allocations only on foreign commerce which attract around 45 to 50% of the total credits.
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