The National Bank of Algeria and the Credit Guarantee Fund for Small and Medium Enterprises signed two agreements on Wednesday. The first agreement concerns the coverage of operating loans for activities funded through conventional financing, while the second pertains to the coverage of operating loans related to Islamic banking activities, guaranteed by the Credit Guarantee Fund for Small and Medium Enterprises, similar to investment loans.
The signing ceremony took place under the supervision of Bachir Bessatri, in the presence of the General Manager of the National Bank of Algeria, Samir Tamrabat, and the General Manager of the Credit Guarantee Fund for Small and Medium Enterprises, El Hadi Temam, along with several senior officials from both institutions.
The conclusion of these two agreements comes within the framework of strengthening the partnership between the National Bank of Algeria and the Credit Guarantee Fund for Small and Medium Enterprises. This partnership will include operating loans and financing directed at small and medium enterprises, enabling them to cover their operational needs and improve their economic activity.
The signing of these two agreements is part of a permanent cooperation strategy between the National Bank of Algeria and the Credit Guarantee Fund for Small and Medium Enterprises, which aims to facilitate the access of these enterprises to short- and medium-term bank financing and to support their establishment and expansion of activities.
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