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President of the Republic orders Minister of Finance to prepare legal text establishing Housing Bank within one month

The President of the Republic, Mr. Abdelmadjid Tebboune, instructed the Minister of Finance to prepare the legal text related to the project of establishing the Housing Bank within a “maximum one month” period, according to a statement by the Presidency of the Republic.

The statement indicated that the President of the Republic also gave instructions to “prepare for the transitional phase between the National Fund for Savings and Reserves and the National Housing Fund for the actual launch of the Housing Bank.”

With regard to opening banking agencies abroad, “the Council of Ministers approved the strategy of opening banking agencies abroad, especially in African countries,” according to the statement.

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