The Bank of Algeria's Monetary and Loan Board has approved draft regulation on the interbank market for exchange, as well as risk insurance instruments.
The exchange system in Algeria constantly fluctuates, which endangers investors and economic traders. However, the new system will help to protect these parties by giving them access to authorized brokers who can utilize currency risk exposure and avoid previous challenges.
The new regulations align with the policy of modernization in exchange systems, which will greatly aid the business industry.
The Bank of Algeria will implement the new system in a number of stages, beginning with traditional disbursements, to proceed smoothly.