In a significant step toward modernizing the nation’s financial landscape and reinforcing consumer protection, the Bank of Algeria has issued a new instruction setting forth the regulatory framework for the activity and operation of Payment Service Providers (PSPs).
According to a statement from the Bank, Instruction No. 06-2025 follows the issuance of Regulation No. 25-02, dated April 14, 2025, in the Official Gazette. The preceding regulation established the foundational principles and conditions for the licensing, accreditation, and operational conduct of PSPs.
The Bank’s statement clarified that this new instruction complements the existing regulatory framework by detailing the specific operational procedures governing the activities of Payment Service Providers.
The primary objective of Instruction No. 06-2025, the statement adds, is to guarantee the security, reliability, and transparency of the payment services that PSPs offer to their clients.
Specifically, the instruction provides a comprehensive framework covering the opening and management of payment accounts, the protection of customer funds, the utilization of authorized agents, and the overall transparency and security of the services provided.
The statement also noted that the implementation of Regulation No. 25-02 is further supported by Instruction No. 03-25, dated May 27, 2025. This instruction specifies the required documentation for obtaining the initial authorization for establishment as well as for the final accreditation, enabling the service provider to commence its activities effectively.
