The Minister of Finance, Mr. Laaziz Faid, confirmed that the banking sector is experiencing great mobility and development and profound economic and technological changes, stressing the necessity of developing banking professions and modernizing banking and loan technologies, as well as developing a training policy in the banking field.

Mr. Laaziz Faid explained, during the General Assembly of the Professional Association of Banks and Financial Institutions, on Saturday, that improving the performance of the banking sector is a continuous process achieved through the continuous development of banking professions, which is the role played by the Professional Association of Banks and Financial Institutions through its focus on modernizing the banking professions in Algeria, as An essential center for consultation between actors in the financial and banking sector.

The Minister of Finance underscored that, in addition to the tasks assigned to the Professional Association of Banks and Financial Institutions, which are mainly related to developing banking professions and modernizing banking technologies and loans, as well as developing a training policy in the banking field, not to mention creating a consensus among banks to determine the ethical and moral rules that regulate the profession and encouraging the development of competition through Finding solutions to obstacles that prevent the implementation of correct competitive practices.

The same official indicated that the Professional Association for Banks and Financial Institutions has expanded the work of the technical committees in the banking and financial institutions sector in order to keep pace with the development and modernization taking place in the field of banking professions, especially since the banking sector is experiencing great mobility and development and profound economic and technological changes.

Mr. Faid called for intensifying the work of these committees to keep pace with developments taking place in the world, while strengthening the role of internal and external communication in order to promote important topics related to the citizen, such as the topic of financial culture.

The Minister noted the contribution of the Professional Association of Banks and Financial Institutions in enriching the discussion in order to update many laws, including the Electronic Commerce Law, the Monetary and Banking Law, which were approved last year, and also the draft Commercial Law as a real gain for developing the economic field from the legal and regulatory side.

The Minister of Finance also praised the efforts made by all banking and financial institutions to make the process of opening the capital of the Algerian Popular Credit a success, which is the result of collective work efforts, as an endeavor that must be followed to achieve positive results that benefit the national economy, recalling the major role played by financial institutions and leasing companies in financing and accompanying economic clients and financing national investment.

Wissam Koudache / English Version: Med.B