Bank of Algeria Sets 48-Hour Deadline for Export Processing, Exporters Welcome Move to Ease Trade Procedures
The central bank has instructed commercial banks to process export domiciliation requests within 48 hours, a measure aimed at accelerating non-hydrocarbon exports while reinforcing oversight of foreign currency repatriation and financial compliance.
By Dr. Hana Saada
ALGIERS, Algeria — The Bank of Algeria (BA) has ordered licensed intermediary banks to process the domiciliation of all goods and services export operations within a maximum of 48 hours from the receipt of complete export documentation, introducing a new deadline designed to streamline export procedures and strengthen oversight of foreign exchange flows.
The directive, issued Tuesday through an official note addressed to commercial banks, has been welcomed by exporters, who say it will significantly reduce administrative delays while improving the efficiency of Algeria’s export ecosystem.
Faster processing and tighter financial oversight
Under the new instruction, intermediary banks are required to complete export domiciliation procedures within two days, in accordance with Article 29 of Regulation No. 07-01 of February 3, 2007, as amended, governing current foreign transactions and foreign currency accounts.
Beyond accelerating administrative processing, the central bank instructed banks to strengthen monitoring of foreign trade operations and ensure strict compliance with regulations governing the repatriation of export earnings.
The measures are intended to safeguard Algeria’s foreign exchange reserves while reinforcing efforts to combat money laundering and violations of foreign exchange regulations.
The Bank of Algeria also called on financial institutions to simplify their internal procedures, prioritize export-related files and eliminate unnecessary delays. It warned that unjustified processing delays could expose banks to supervisory measures under the applicable regulatory framework.
Exporters welcome the decision
Toufik Hadkeheil, President of the Algerian Cluster of Fruit and Vegetable Exporters (CAFLEX), described the measure as a significant step toward improving the business environment for exporters.
According to Hadkeheil, bank domiciliation procedures previously required as long as two weeks, creating operational constraints for exporters attempting to meet contractual delivery schedules.
“A 48-hour domiciliation period is an excellent measure,” he said, expressing confidence that the decision would encourage banks to prioritize export operations and adapt more effectively to the pace of international trade.
He added that the directive reflects the authorities’ broader efforts to modernize export procedures, particularly through greater digitalization of banking services.
Hadkeheil also advocated the creation of a dedicated one-stop banking window for exporters to further simplify administrative procedures and facilitate activities that generate foreign currency revenues.
Supporting export growth while preserving foreign exchange
The central bank reaffirmed that intermediary banks remain responsible for verifying the legality and compliance of export transactions, monitoring the repatriation of export proceeds and enforcing anti-money laundering regulations alongside foreign exchange legislation.
Hadkeheil noted that ensuring the return of export revenues falls squarely within banks’ supervisory responsibilities, recalling previous remarks by President Abdelmadjid Tebboune indicating that approximately $350 million in export revenues had not been repatriated.
“The issue therefore requires the highest level of vigilance,” he said.
Date exporter Abdelhakim Souli likewise welcomed the reform, arguing that prolonged bank processing times had long represented one of the principal administrative obstacles facing exporters.
He nevertheless pointed to continuing challenges related to recently introduced invoice declaration procedures, saying further administrative simplification across the export chain would strengthen Algeria’s export performance.
The latest directive forms part of Algeria’s broader strategy to expand non-hydrocarbon exports, improve the competitiveness of domestic producers and reinforce financial governance by ensuring compliance with foreign exchange regulations and the timely repatriation of export revenues.
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