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The first one is French, with the name Calyon, and the second is from the United Arab Emirates (UAE) under the name of Essalam (peace), with the capital that meets the new conditions, that is more than 2, 5 billions DA. A statement issued by the council, which is affiliated to Bank of Algeria, declared that after the meeting that was presided by Algeria Bank’s commissioner, yesterday, Mohammed Laksassi, that two demands of authorisation to open two foreign bank branches were discussed, and that the council, after deliberation accepted the two demands. The two demands concern, according to the same statement, the bank Calyon Algeria, which is a branch of the group Agricultural Credit which was created with the capital of 2, 5 billions DA. The second bank is Essalam Bank of Algeria, which was made from investors from Arab countries that include “Financial Amlak” and “Amar Amlak”. The bank was made with the capital of 7, 2 billions DA. The two banks were authorised to be built according to international standards, that is to perform all financial and bank transfers according to article 66 and 72 of the order 03-11 dated on 26 August 2003 that are related to credit and money. S. Hafid — El-Khabar | ||||||||||||||||||
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French and Emirates banks in Algeria