Financial Sector Assessment : Algeria

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dc.creatorWorld Bank
dc.date2013-09-30T21:40:12Z
dc.date2013-09-30T21:40:12Z
dc.date2004-06
dc.date.accessioned2026-07-01T01:16:09Z
dc.descriptionOver the past decade, Algeria has courageously attempted to modernize its financial system, despite social strife, and unique challenges posed by the large hydrocarbon sector. However, lending by state-owned banks, mostly to public entities, still dominates financial intermediation, financial markets remain in their infancy, and, implementation of regulatory reforms is lagging. And, because of hydrocarbon-funded state support to borrowers and lenders alike, the financial system appears stable, although this "stability" carries high costs, and distorts risk pricing and governance. The report emphasizes that to alter these patterns, the authorities should push on several, mutually reinforcing policy fronts: privatization of all public banks over the medium term; improvements in the banking system, namely banking operations, to cut intermediation costs; stimulate a strong institutional framework, and regulation of hydrocarbon-induced liquidity and credit cycles, that curtail banks' risk-taking; and, undertake longer-term reforms to stimulate the non-bank financial sector. Nevertheless, the report also stipulates that privatization should not attempt to recoup past budgetary outlays, but prevent future ones, and let new owners decide on investments, and cost cuts. Direct budgetary support should replace lending to non-viable State-owned enterprises (SOEs) and financial support to public programs, such as housing or agriculture. Instead, the government should consider replacing the current guarantee subsidies, with direct budgetary financing of public entities, whereas in managing their housing and agriculture finance programs, the authorities should consider alternative methods. Banking supervision, and prudential regulation need strengthening in many core areas. The Bank of Algeria (BA) as supervisor, can play a useful role in the operational restructuring of public banks by enforcing regulation to gain a firm handle on bank profitability. But, while the ordinance on Money and Credit of October 2003 contain some improvements, other provisions could undermine BA's financial, and operational autonomy. Financial system stability and development in Algeria, have strong overtones of public debt, and expenditure management, because of the policies that regulate the effects of the oil cycle on bank liquidity, and credit risks.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2004/06/4945558/algeria-financial-sector-assessment
dc.identifierhttps://hdl.handle.net/10986/15942
dc.identifierhttps://doi.org/10.1596/15942
dc.identifier.urihttp://hdl.handle.net/123456789/416581
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectAGENTS
dc.subjectAPPLICATIONS
dc.subjectAUDITING
dc.subjectAUTONOMY
dc.subjectBANK LENDING
dc.subjectBANK LIQUIDITY
dc.subjectBANK PRIVATIZATION
dc.subjectBANK RATINGS
dc.subjectBANK RESERVES
dc.subjectBANK RISK
dc.subjectBANKING SECTOR
dc.subjectBANKING SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY PROCEDURES
dc.subjectBANKS
dc.subjectBROKERS
dc.subjectCAPITAL GAINS
dc.subjectCENTRAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONTINGENT LIABILITIES
dc.subjectCONTRACTUAL SAVINGS
dc.subjectCONTRACTUAL SAVINGS INSTITUTIONS
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIT INSURANCE
dc.subjectCREDIT RISK
dc.subjectCREDIT RISKS
dc.subjectDEBT
dc.subjectDEFAULT RISK
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectEFFECTIVE DEMAND
dc.subjectEXCESS LIQUIDITY
dc.subjectFACTORING
dc.subjectFINANCIAL ACCOUNTING
dc.subjectFINANCIAL DATA
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL POLICIES
dc.subjectFINANCIAL SERVICES
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN EXCHANGE
dc.subjectHOUSING
dc.subjectHOUSING FINANCE
dc.subjectINCOME
dc.subjectINCOME GROUPS
dc.subjectINSPECTIONS
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE FUNDS
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURERS
dc.subjectINTEREST RATES
dc.subjectLAWS
dc.subjectLEGAL FRAMEWORK
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLIQUIDATION
dc.subjectLIQUIDATION VALUE
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMANAGEMENT CONTROL
dc.subjectMARKET RISK
dc.subjectMERGERS
dc.subjectMICROFINANCE
dc.subjectMONETARY AGGREGATES
dc.subjectMORTGAGE INSURANCE
dc.subjectMOTOR INSURANCE
dc.subjectMUNICIPALITIES
dc.subjectNET WORTH
dc.subjectNEW ENTRANTS
dc.subjectNON-LIFE INSURANCE
dc.subjectNONPERFORMING LOANS
dc.subjectOIL
dc.subjectOPERATING COSTS
dc.subjectOPERATING EXPENSES
dc.subjectPENALTIES
dc.subjectPENSION FUNDS
dc.subjectPORTFOLIOS
dc.subjectPREMIUMS
dc.subjectPRIVATE BANKS
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPROGRAMS
dc.subjectPROPERTY RIGHTS
dc.subjectPRUDENTIAL REGULATION
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPRUDENTIAL REQUIREMENTS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC ENTERPRISES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREINSURANCE
dc.subjectRESOURCE ALLOCATION
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES MARKETS
dc.subjectSETTLEMENT SYSTEMS
dc.subjectSHAREHOLDERS
dc.subjectSMALL BANKS
dc.subjectSOCIAL SERVICES
dc.subjectSOLVENCY
dc.subjectSTATE BANKS
dc.subjectSTATE GUARANTEES
dc.subjectSTOCK PRICES
dc.subjectTAXATION
dc.subjectTRADING
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectVOLATILITY
dc.subjectWORKING CAPITAL FINANCIAL SECTOR REFORM
dc.subjectSTATE-OWNED BANKS
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectPRIVATIZATION
dc.subjectHYDROCARBON RESOURCES
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectBANKING SYSTEMS
dc.subjectBANKING RISK MANAGEMENT
dc.subjectBANK SUPERVISION
dc.subjectBANKING REGULATIONS
dc.subjectPUBLIC FINANCE
dc.subjectGUARANTEES
dc.subjectSUBSIDIES
dc.subjectOPERATIONAL INTERVENTIONS
dc.subjectRESTRUCTURING
dc.subjectFINANCIAL MANAGEMENT
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURES
dc.subjectREGULATORY FRAMEWORK
dc.subjectOIL SUBSIDIES
dc.subjectBANK LIQUIDITY
dc.subjectCREDIT RISK PREMIUM
dc.subjectINSTITUTIONAL FRAMEWORK
dc.titleFinancial Sector Assessment : Algeria

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