Issue #38 of the Official Gazette of the People's Democratic Republic of Algeria published on 19 June 2025:
Algeria Joins New Development Bank, Issues Sovereign Sukuk, and Reorganizes Cinema Sector
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Issue #38
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Year 2025
Key decisions include Algeria's accession to the New Development Bank, modalities for issuing Sovereign Sukuk, reorganization of the Algerian Cinema Development Center, and indemnities for High Islamic Council members. New anti-money laundering regulations for real estate agents.
1. Presidential Decrees
Budgetary credit transfers, budget revision, Algeria's accession to the New Development Bank, setting indemnities for High Islamic Council members, dissolution of the National Center for Cinematographic Industry and reorganization of the Cinema Development Center, and termination of the Constitutional Court President's functions.
- Credit transfers to the Ministries of Sports and National Solidarity.
- Budget revision for the former Minister of Industry and Pharmaceutical Production.
- Authorization for Algeria's subscription to the capital of the New Development Bank.
- Setting indemnities for the members of the High Islamic Council.
- Dissolution of the National Center for Cinematographic Industry and transfer of its assets, rights, obligations, and personnel to the Algerian Cinema Development Center.
- Reorganization of the Algerian Cinema Development Center.
- Termination of the President of the Constitutional Court's functions, upon his request.
- Budget revision for the former Minister of Industry and Pharmaceutical Production.
- Authorization for Algeria's subscription to the capital of the New Development Bank.
- Setting indemnities for the members of the High Islamic Council.
- Dissolution of the National Center for Cinematographic Industry and transfer of its assets, rights, obligations, and personnel to the Algerian Cinema Development Center.
- Reorganization of the Algerian Cinema Development Center.
- Termination of the President of the Constitutional Court's functions, upon his request.
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2. Individual Decisions
Termination of functions and appointments of officials in various bodies.
- Termination of functions for the Chief of Staff of the Minister of Interior, Director General of the Higher School of Water Resources Management, a Sub-Director at the Constitutional Court, and the President of the National Council for Scientific Research and Technologies.
- Appointment of a special advisor at the Presidency, Director of Administration and Resources at the Constitutional Court, President of the National Council for Scientific Research and Technologies, and Director of Hydraulics for Skikda wilaya.
- Appointment of a special advisor at the Presidency, Director of Administration and Resources at the Constitutional Court, President of the National Council for Scientific Research and Technologies, and Director of Hydraulics for Skikda wilaya.
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3. Ministry of Finance: Issuance of Sovereign Sukuk
Defining the modalities for the issuance of Sovereign Sukuk by the Public Treasury to finance State infrastructure and/or commercial public facilities.
- Sovereign Sukuk are issued to finance State infrastructure and/or commercial public facilities.
- The Treasury can mandate another entity to issue Sukuk.
- Types of Sukuk: Ijara, Musharaka, Mudaraba, Istisna'a, Wakala.
- Subscription is nominative or to bearer, by decision of the Minister of Finance after a certificate of conformity from the High Islamic Council.
- The decision specifies the total amount, number of Sukuk, nominal value, subscription and repayment terms, opening and closing dates, estimated yield, and involved parties.
- The Treasury can mandate another entity to issue Sukuk.
- Types of Sukuk: Ijara, Musharaka, Mudaraba, Istisna'a, Wakala.
- Subscription is nominative or to bearer, by decision of the Minister of Finance after a certificate of conformity from the High Islamic Council.
- The decision specifies the total amount, number of Sukuk, nominal value, subscription and repayment terms, opening and closing dates, estimated yield, and involved parties.
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4. Ministry of Housing: Anti-Money Laundering and Terrorism Financing Regulations for Real Estate Agents
Establishment of regulations for the prevention and combating of money laundering, terrorism financing, and the financing of proliferation of weapons of mass destruction for real estate agents.
- The regulation aims to define prevention and control measures that real estate agents must apply.
- Includes definitions of key terms (risk-based approach, client, beneficial owner, politically exposed persons, etc.).
- Obligation for agents to assess money laundering and terrorism financing risks and apply customer due diligence measures.
- Specifies due diligence obligations, including identifying and verifying client and beneficial owner identity.
- Special procedures for high-risk clients and politically exposed persons.
- Obligation to report suspicious transactions to the Financial Intelligence Processing Unit.
- Requirements for record-keeping, internal control, and training.
- Sanctions for non-compliance.
- Includes definitions of key terms (risk-based approach, client, beneficial owner, politically exposed persons, etc.).
- Obligation for agents to assess money laundering and terrorism financing risks and apply customer due diligence measures.
- Specifies due diligence obligations, including identifying and verifying client and beneficial owner identity.
- Special procedures for high-risk clients and politically exposed persons.
- Obligation to report suspicious transactions to the Financial Intelligence Processing Unit.
- Requirements for record-keeping, internal control, and training.
- Sanctions for non-compliance.
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