Algiers – Yacine El-Mahdi Oualid, Minister of Startups and Knowledge Economy, emphasized the importance of financial technology in government priorities, highlighting its significant role in facilitating services for citizens.
Speaking at the launch of the 2024 Open Innovation Challenge focused on financial technology and insurance, Oualid stated that technology will play a crucial role in the future by providing modern services that Algerian citizens are expecting.
The minister revealed that the new banking law aims to offer solutions to payment challenges, introducing technology that simplifies transactions for citizens. He also stressed the need to introduce the possibility of opening digital banks, which would create numerous opportunities for the future.
In this context, Oualid acknowledged that Algeria’s financial institutions face technical challenges and are seeking skilled talents to address these issues. He reaffirmed his ministry’s commitment to empowering talents to create innovative solutions not yet available in the market.
The minister also disclosed an ongoing insurance-related project under development at the Ministry of Finance.
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Author name: nor-eleslam
Technology and financial services Algeria
