Bank of Algeria

The Bank of Algeria is the central bank of Algeria. Based in Algiers, it performs the core monetary and financial-system functions associated with a national central bank, including issuing the Algerian dinar, formulating and implementing monetary policy, regulating banks and financial institutions, and supporting the orderly operation of Algeria's payments and banking infrastructure. The institution was created after Algerian independence in 1962 to assume the issuing and related central-banking activities previously conducted by the Banque de l'Algérie, the colonial issuing institution of French Algeria. The transfer was arranged through agreements concluded in December 1962 between the Algerian and French authorities. These agreements addressed relations between the Algerian Treasury and the French Treasury and transferred the privilege of issuing currency to the new Algerian central bank, with technical assistance from the Bank of France during the transition. Its establishment formed part of the broader construction of Algeria's independent state institutions. Seghir Mostefaï, who had participated in the provisional executive and in the Algerian delegation at the Evian negotiations, played a central role in creating the bank and became its first governor. The bank thereafter developed as a public monetary authority rather than a conventional retail or commercial banking brand. The Bank of Algeria sets the conditions under which banks and financial institutions, whether Algerian or foreign, may establish themselves and operate in Algeria. It can also revise or withdraw permissions within the framework of Algerian banking law. Its regulatory responsibilities include prudential oversight and measures intended to protect the integrity of the financial system. One cited example is the introduction of anti-money-laundering requirements under which banks must open accounts only when the account holder is physically present. The institution's work is shaped by Algeria's distinctive monetary and banking environment, including the importance of cash outside the formal banking system and the need to maintain confidence in the dinar and the banking sector. Its responsibilities therefore extend beyond interest-rate and liquidity management to supervision, currency administration, and the regulation of access to banking activity. The Bank of Algeria is not a listed company and does not operate primarily as a consumer-facing financial-services brand. Its principal stakeholders are the Algerian state, the domestic banking sector, financial institutions operating in Algeria, and the public that uses the national currency. Its governors have included Seghir Mostefaï, Mahfoud Aoufi, Rachid Bouraoui, Bader Eddine Nouioua, Abderrahmane Hadj-Nacer, Abdelwahab Keramane, Mohamed Laksaci, Mohamed Loukal, Aïmene Benabderrahmane, Rosthom Fadli, Salah Eddine Taleb, and, according to the supplied reference material, Mouatassem Boudiaf from January 2026.

The Bank of Algeria was created in 1962 as part of the institutional transition that followed Algerian independence. Before independence, the Banque de l'Algérie served as the issuing and central-banking institution for French Algeria. The new Algerian state needed an institution capable of controlling currency issuance, managing monetary affairs, and supporting the operation of a national financial system. Seghir Mostefaï, an expert associated with the Provisional Executive and a member of the Algerian delegation at the Evian negotiations, played a leading role in establishing the bank and became its first governor. The legal and operational transfer was formalized on 13 December 1962. The arrangements included two financial agreements concerning relations between the Algerian Treasury and the French Treasury, together with a convention transferring the privilege of issuing currency from the former Banque de l'Algérie to the Bank of Algeria. The Bank of France provided technical assistance during the transition. These agreements allowed Algeria to assume monetary responsibilities while the new national institutions were being organized. From its foundation, the Bank of Algeria functioned as a public central bank rather than as a commercial bank serving ordinary customers. Its responsibilities include issuing and managing the Algerian dinar, conducting monetary-policy operations, overseeing aspects of the banking and financial system, and setting the conditions under which domestic and foreign banks and financial institutions may operate in Algeria. The bank can modify or withdraw such authorization in accordance with applicable rules. Banking regulation has been an important part of its mandate. The institution has issued requirements addressing financial crime and the integrity of banking channels. One example cited in reference material is a rule requiring account opening to occur in the physical presence of the account holder. Such measures reflect the central bank's role in anti-money-laundering supervision and in attempts to strengthen formal banking relationships. The bank operates in an environment where cash has historically remained important and where a substantial volume of currency circulates outside commercial banks. This creates distinctive challenges for monetary management, financial inclusion, bank supervision, and the development of a stable commercial banking system. The Bank of Algeria therefore combines conventional central-bank duties with a significant regulatory and institutional-development role. Its leadership has changed several times across Algeria's post-independence history. Seghir Mostefaï served from 1962 to 1981, followed by Mahfoud Aoufi, Rachid Bouraoui, Bader Eddine Nouioua, Abderrahmane Hadj-Nacer, Abdelwahab Keramane, Mohamed Laksaci, Mohamed Loukal, and a succession of interim and permanent governors during the political and administrative changes of 2019–2022. Rosthom Fadli served first on an interim basis and subsequently as governor. Salah Eddine Taleb held the governorship from May 2022 until January 2026 in the supplied reference, after which Mouatassem Boudiaf became governor. The bank remains Algeria's principal monetary authority and regulator of the national banking framework.

• 2026

  Mouatassem Boudiaf became governor

  [1]Bank of Algeriaen.wikipedia.org

  The supplied reference identifies Mouatassem Boudiaf as succeeding Salah Eddine Taleb on 4 January 2026.

• 2022

  Salah Eddine Taleb became governor

  [1]Bank of Algeriaen.wikipedia.org

  Salah Eddine Taleb became governor on 23 May 2022.

• 2020

  Rosthom Fadli assumed the governorship

  [1]Bank of Algeriaen.wikipedia.org

  After an interim appointment, Rosthom Fadli served as governor from September 2020.

• 2019

  Interim leadership period

  [1]Bank of Algeriaen.wikipedia.org

  Amar Hiouani served as interim governor during a period of leadership transition.

• 2016

  Mohamed Loukal became governor

  [1]Bank of Algeriaen.wikipedia.org

  Mohamed Loukal succeeded Mohamed Laksaci as governor on 31 May 2016.

• 1962

  Creation of the Bank of Algeria

  [1]Bank of Algeriaen.wikipedia.org

  Following independence, Algeria established the Bank of Algeria to assume the central-banking and currency-issuing functions previously associated with the Banque de l'Algérie.

• 1962

  Transfer of issuing privilege

  [1]Bank of Algeriaen.wikipedia.org

  On 13 December, Algerian and French authorities formalized arrangements for transferring currency-issuing authority and managing transitional Treasury relations.

Algeria's sovereign monetary authority and central regulator for the country's banking and currency system.

• Currency and monetary infrastructure · 1962

  Algerian dinar issuance

  The Bank of Algeria holds responsibility for issuing and managing Algeria's national currency, the Algerian dinar. This function is central to its identity and distinguishes it from commercial banks. Currency administration supports the operation of the domestic payments system and provides the monetary foundation for the Algerian economy.

• Central banking · 1962

  Monetary policy

  The bank conducts Algeria's monetary-policy function, using the instruments and regulatory framework available to a central bank to influence liquidity, monetary conditions, and confidence in the national currency. The reference material does not specify individual policy instruments or targets.

• Financial regulation · 1962

  Banking supervision and authorization

  The Bank of Algeria establishes conditions under which Algerian and foreign banks and financial institutions may operate in the country. It may amend or withdraw permissions under the applicable regulatory framework, making authorization and supervision a core institutional service for the national banking sector.

• Compliance and financial integrity

  Anti-money-laundering banking rules

  The central bank issues and enforces banking requirements intended to reduce illicit financial activity. One cited measure requires banks to open accounts only when the account holder is physically present, linking customer identification to direct interaction with the bank.

• 1962

  Build an independent national central bankStrategy

  Background

  After independence, Algeria needed to replace the colonial issuing institution and establish control over its own currency and monetary administration.

  Action taken

  The Bank of Algeria was created and received the currency-issuing privilege formerly associated with the Banque de l'Algérie, with transitional technical support from the Bank of France.

  Aftermath

  The arrangement provided the institutional basis for Algeria's independent monetary system and central-bank framework.

  Source

• Require physical presence for account openingOther

  Background

  The measure was associated with anti-money-laundering controls and the need to strengthen customer identification within Algeria's banking system.

  Action taken

  The Bank of Algeria announced rules requiring banks to open accounts only when the account holder is present in person.

  Aftermath

  The rule tightened onboarding requirements, although the supplied material does not provide quantitative results or later amendments.

  Source

1. 1Bank of Algeriaen.wikipedia.org