Funding commercial accounts through written payment methods or cash payments
The Bank of Algeria has issued a new memorandum authorizing the funding of commercial accounts through written payment instruments or cash payments, based on daily and/or weekly turnover. The memorandum stated: “In accordance with the legislative and regulatory provisions in force, customer due diligence measures…
The Bank of Algeria has issued a new memorandum authorizing the funding of commercial accounts through written payment instruments or cash payments, based on daily and/or weekly turnover.
The memorandum stated: “In accordance with the legislative and regulatory provisions in force, customer due diligence measures shall be observed using a risk-based approach, as they were prior to the issuance of Memorandum No. 02/2025 dated December 22, 2025.”
It explained that commercial accounts can be funded through written payment instruments or cash payments based on daily and/or weekly turnover.
Operations must be “compatible with the profile and consistent with the customer information held by the bank.”
This memorandum cancels and replaces Memorandum No. 02/2025 dated December 22, 2025.
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