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CMC: Contribution to Deposit Guarantee Fund set at 0.25%.

Summary: The Credit and Money Council (CMC) has set at 0.25% the contribution due to the Deposit Guarantee Fund for 2008, the CMC said on Tuesday.

The Credit and Money Council (CMC) has set at 0.25% the contribution due to the Deposit Guarantee Fund for 2008, the CMC said on Tuesday. The contribution is meant for all bank deposits made up to 31 December 2008, added the Council, which met in an ordinary session, chaired by Mohammed Laksaci, Governor of the Bank of Algeria. The CMC has also authorized "Fransabank Al Djazair" to increase its capital from DZD 7 billion up to DZD 10 billion, so as "to comply with the regulations relating to the minimum capital requirements for banks and financial establishments operating in Algeria," Laksaci said.AaAaAa

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Publication:UMCI News (Potomac Falls, VA)
Date:Jul 29, 2009
Words:142
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