National Housing Fund holds a general assembly to materialize its conversion into a bank

The National Housing Fund held today, Saturday an extraordinary general assembly devoted to the inclusion of amendments to its basic law, embodying its transformation into a bank, according to a statement issued by the Ministry of Housing, Urbanism and the City.

The work of this general assembly, which took place at the headquarters of the National Housing Fund, was supervised by the Minister of Housing, Urbanism and the City, Mohamed Tarek Belaribi, and the Minister of Finance, Brahim Kassali, according to the same source.

This meeting came after obtaining Decision No. 02-22, which includes the license to establish a bank and issued on November 02 of the current year by the Monetary and Loan Council.

The convening of this assembly aims to amend the basic law of the National Housing Fund (a public economic institution) by including various banking operations (especially receiving money from the public, loan operations, placing means of payment at the disposal of customers and managing them, according to the text of Article 66 of the Monetary and Loan Law) in its activity, as well as converting its name to the National Housing Bank.

This step is necessary in order to deposit the credit file with the central bank, the statement said.

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