Banks must localize export activities in 48 hours
The Central Bank of Algeria issued a directive requiring banks to complete export transactions of goods and services within 48 hours of receiving the complete documentation, with the aim of promoting and facilitating exports. It clarified that accredited banks must simplify and quickly process export files while strictly adhering to this deadline, and implement rigorous supervisory measures to address unjustified delays. The directive also emphasized the need to strengthen oversight of foreign trade to ensure the legality of documents, compliance with the repatriation of export proceeds, and to combat money laundering and currency exchange violations.
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