The Bank of Algeria has directed intermediary banks, referred to as البنوك الوسطاء المعتمدين, to enhance oversight of import operations for goods intended for resale. This directive effectively orders intermediary banks to tighten control over these specific import activities. Under the new regulations, economic operators are now required to undergo a prior assessment of their financial capabilities for these import activities. A key provision stipulates that the total value of unsettled import operations cannot exceed an economic operator's available private funds. This full instruction, designed to bolster financial stability and regulatory compliance, entered into force on May 19, 2026.
New Import Assessment Rules
The Bank of Algeria's new instruction mandates that the domiciliary bank evaluate an economic operator's financial situation before any bank domiciliation for imports of goods intended for resale. This key step ensures that financial checks are conducted upfront, prior to the formal processing of import documentation. Banks must verify that the economic operator's net assets are equal to or exceed their share capital, basing this assessment on financial statements submitted to the tax administration for the ended fiscal year. This requirement provides a standardized and verifiable method for evaluating an operator's financial standing. For economic operators that are newly established, banks are permitted to rely on an opening balance sheet or an interim financial statement, provided it is certified by an auditor, to assess their financial capacity. This flexibility acknowledges the different reporting stages for nascent businesses while maintaining a strong verification process.
The regulation specifies that the outstanding balance of unsettled import operations for goods intended for resale cannot exceed 100% of the economic operator's private funds across all accredited intermediary banks. To enforce this, banks are required to obtain a declaration from the economic operator, detailing the outstanding balances of import operations domiciled with any other accredited intermediary banks. This measure aims to prevent operators from exceeding their financial limits by spreading operations across multiple institutions without consolidated oversight. Under these new rules, an import operation is considered 'settled' once the domiciliary bank has processed the final debit from the economic operator's account for the full value of the operation. This clear definition of 'settled' ensures consistent application of the new financial limits.
Regulatory Context and Basis
Instruction No. 05-2026, which outlines the new financial capability assessments, was formally signed by Governor Mohamed Lamine Lebou. The Bank of Algeria stated that this instruction serves as an application of Article 42 of Regulation No. 07-01, dated February 3, 2007. This establishes the legal and regulatory foundation for the enhanced import controls. The new provisions mandate that the total value of an economic operator's unsettled import operations for goods intended for resale must not exceed their available private funds, reinforcing the core objective of the new directive.
The Bank of Algeria clarified that these new requirements specifically do not apply to import operations for goods intended for resale that were shipped before Instruction No. 05-2026 was issued. This exemption ensures that operations already in transit are not retroactively subjected to the enhanced financial assessment criteria, providing a degree of operational continuity for ongoing trade. The instruction, marking a significant shift in the regulatory framework for import financing within Algeria, officially entered into force on May 19, 2026.
Objectives and Implications
The Bank of Algeria stated that the new measures, including financial capability assessments for economic operators, aim to strengthen control over foreign trade. The institution indicated that these regulations are also intended to ensure the financial balances of importers, thereby fostering greater stability within the national economy. The central bank's directive applies specifically to goods destined for resale, requiring intermediary banks to evaluate an operator's net assets against their share capital. This framework is designed to limit the value of outstanding import operations to an economic operator's available private funds, thereby enhancing oversight of financial commitments in import activities and promoting more responsible and sustainable trade practices. The full nature of these new rules shows the central bank's commitment to strong financial governance in the import sector.
