Foreign Travel Currency Exchange: Bank of Algeria Introduces New Regulatory Conditions
Algiers – December 2025 – The Bank of Algeria has introduced a new set of regulatory measures governing the foreign travel currency exchange, notably making the holding of a bank account a mandatory prerequisite for benefiting from the allocation. The new framework, outlined in two official notes addressed to banks on December 15 and 16, sets stricter conditions for settling the dinar countervalue of the foreign exchange allocation for travel abroad.
Among the key provisions are the obligation to hold a bank account, the prohibition of cash payments, and the requirement to return the foreign exchange allocation in cases where the actual duration of stay abroad is less than seven days. These measures form part of a broader effort by the central bank to reinforce transparency, compliance, and effective control over the allocation mechanism.
End of Cash Payments for Travel Currency Exchange
In a note dated December 15 and signed by the Director General of the General Inspectorate, the Bank of Algeria reminded banks of the strict obligation to comply with Instruction No. 05-2025 of July 17, 2025, relating to the foreign travel currency exchange, particularly the provisions set out in Article 10. Banks are required to ensure that the effective beneficiary possesses sufficient financial capacity to cover the transaction, either on their own behalf or on behalf of related persons as defined by the instruction, in full accordance with the legislative and regulatory framework in force.
Consequently, the granting of the foreign exchange allocation is now strictly conditional upon the applicant holding a bank account. In this context, banking institutions are instructed to implement all due diligence measures prescribed by current regulations, including customer due diligence, identity verification, and the assessment of transaction consistency with the customer’s financial profile. The dinar countervalue of the foreign currency amount must be settled exclusively through scriptural payment instruments issued by banks, such as the CIB card, bank cheques, or any other authorized non-cash instrument. Cash payments are no longer permitted.
Stays of Less Than Seven Days: Mandatory Restitution of the Allocation
Banks are also required to inform beneficiaries who have stayed abroad for an effective period of less than seven days of their obligation to return the foreign exchange allocation received. Failure to comply with this requirement will result in the loss of the right to benefit from the allocation for a period of five years, without prejudice to potential legal proceedings. According to the Bank of Algeria, these provisions are intended to secure the conditions under which the allocation is granted, ensure that it is used solely by legitimate beneficiaries, and guarantee the proper conduct of the operation. The measures enter into force as of the date of signature of the note.
In a second note dated December 16 and signed by the Director General of Foreign Exchange, the Bank of Algeria further clarified that the collection of the dinar countervalue of the foreign exchange allocation now falls exclusively within the remit of banks. The granting of this right remains conditional upon holding a bank account, and payment must be made directly to the bank either by the effective beneficiary or by any resident national on behalf of their spouse or dependents, in accordance with Article 5 of Instruction No. 05-2025.
Strengthening Oversight and Preventing Abuse
The adjustments introduced aim to rationalize payment channels for the dinar countervalue and enable banks to exercise improved oversight over financial flows associated with the foreign travel currency exchange. This tightening of controls follows the decision taken in January 2024 by President Abdelmadjid Tebboune to increase the annual tourist allocation to 750 euros per citizen traveling abroad.
However, throughout 2025, customs services recorded several cases involving violations of the regulatory framework. Investigations revealed the existence of organized networks exploiting loopholes through the fragmentation of authorized amounts, mobilizing multiple travelers to transfer foreign currency abroad in an apparently legal manner, before consolidating the funds outside the national territory. According to control services, such practices often rely on fictitious travel, false currency declarations, or the use of intermediaries acting as nominees, thereby circumventing the spirit of the regulation while remaining, on the surface, within the authorized individual limits.
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