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Algeria Bank reveals massive drawing operations
Real estate news By Elkhabar
11-10-2007
Algeria Bank can afford the liquidity required in the market, a source within Algeria Bank told El Khabar. Yet, Algeria Bank recorded huge amounts drawings between 2005 and 2006, which raises many questions about the destination of the amounts out of control.
The source added that the problem doesn’t lie in banks supply with liquidity rather the drawing operations traded in the black market. It further highlighted that the problem has nothing to do with the salaried drawings and has to be treated with an exhaustive management of all bank accounts respecting the regulations related to massive drawing operations.
In 2005-2006, the phenomenon reached its climax. Negative saving can explain the phenomenon, trading with huge financial amounts outside banking milieus raises money laundering concerns and speculations in many sectors, as they remain outside control.
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