Bank of Algeria Reduces Export Revenue Repatriation Deadline

The Bank of Algeria has issued new regulations, detailed in Official Journal n° 58 and signed by Governor Mohammed Lamine Lebbou, to refine the framework for non-hydrocarbon export revenue repatriation. The new Regulation n° 26-02 reduces the standard deadline for exporters to bring foreign currency earnings back into the national banking system from 360 days to 120 days. This policy adjustment aims to accelerate the return of foreign currency, thereby strengthening Algeria's foreign exchange reserves and enhancing the liquidity of export revenues.

While the primary deadline is now 120 days from the date of shipment or service completion, a conditional extension up to a maximum of 180 days is available. This extension is strictly contingent upon the export operation being backed by an export credit insurance policy underwritten by the national authorized organization. This measure is part of a series of initiatives by the monetary institution to streamline and secure the flow of export revenues, which also includes opening credit lines for exporters under certain conditions and setting a 48-hour processing deadline for export operation domiciliation by banks.

The public authorities have expressed an objective to increase non-hydrocarbon exports to between $10 billion and $15 billion by 2026. The reduction in the repatriation deadline is designed to support this goal by providing a control mechanism proportionate to the scale of the intended financial flows. By accelerating the return of foreign currency and reinforcing oversight of exchange operations, the new regulation addresses identified practices of circumvention, such as exports without effective revenue repatriation, fractionation of consignments, and under-declaration of goods value, ultimately aiming to ensure greater transparency and efficiency in Algeria's export sector.