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Banking

Algeria’s battle for modern banking

A properly functioning financial system has long eluded the country. As it moves on from Abdelaziz Bouteflika’s 20-year leadership, can the financial system finally overcome its many problems?

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People walk past Bank of Algeria in Algiers, Algeria May 24, 2019. Picture taken May 24, 2019. REUTERS/Ramzi Boudina - RC1C2F3BD100
Ramzi Boudina/REUTERS



Nabil Djemaa expected big changes at Banque de Développement Local (BDL), one of Algeria’s largest banks. Speaking to Euromoney on the morning of July 31, Djemaa, one of the country’s most experienced bank auditors and a former employee of BDL, pointed to its chief executive’s close ties to Algeria’s recently fallen political regime.




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