Al Salam Bank acquired the license from Algeria's Money and Credit Council to operate as one of the largest banks in North Africa and to offer its banking services through its headquarters and one branch in the Algerian capital city with a paid up capital of 7.2 billion Algerian dinar
Financial penalties for noncompliance range from 50,000 to 5 million Algerian dinars
The steepest falls were recorded by the Algerian dinar
(-29%), Botswana pula (-19.4%) and the South Africa's rand (-19.2%).
Excluding the losses caused by depreciation of the Algerian Dinar
, Net Profit would have been QAR 215 million.
The development of franchising, the control of the inflation rate in 2013 at under 4% and the devaluation of the Algerian dinar
all had an influence on sales in a channel in which imported products account for a significant share of value sales, resulting in strong value growth during 2013.
The devaluation of the Algerian dinar
and the general security situation have cut into both categories.
In particular, the Brazilian Real weakened over 30 per cent and the Algerian Dinar
weakened by over 20 per cent during the first half of 2015 compared with the same period in the previous year.
In particular, Brazilian real and Algerian dinar
weakened by more than 20 per cent during the quarter compared with the same period in the previous year.
In particular, Brazilian Real and Algerian Dinar
weakened by over 20 per cent during the quarter compared to the same period in the previous year.
Summary: Al Salam Bank officially started its operation in Algiers, with a paid up capital of 7.2 billion Algerian dinar
($100 million) for providing high-quality services.
"Al Baraka Bank Algeria raised its social capital from 10bn Algerian dinars
MANAMA: Following the approval of the Monetary and Loan Board, Al Baraka Bank Algeria, a subsidiary banking unit of Al Baraka Banking Group, raised its social capital from 10 billion Algerian dinars
to 15bn dinars.
Under the terms of the concession granted by the National Highways Agency of Algeria, 31.2% of the amount due to the Portuguese construction company will be paid in euros, and the reminder (68.8%) will be in Algerian dinars