Algiers – The Ministry of Trade and Export Promotion has issued a statement clarifying procedures regarding banking domiciliation, following a recent announcement from the Association of Banks and Financial Institutions (ABEF).
The Ministry’s statement, released today, specifies that the exceptional license granted by its services for banking domiciliation is strictly limited to freight charges (FRET) for import operations. This provision is valid until December 31, 2025.
The measure aims to facilitate shipping procedures. The Ministry has instructed commercial banks to provide a comprehensive report on the banking domiciliation of freight charges (FRET) within the specified timeframe.
Regarding all other import operations, including those related to management, equipment, and resale activities, the Ministry emphasized that they remain subject to the provisional program and the banking domiciliation document issued by the Ministry. These operations must adhere to existing regulations and procedures.
The Ministry’s clarification seeks to ensure clarity and streamline import processes while maintaining regulatory oversight. Further details and updates will be provided as needed.
