THE LEGAL FRAMEWORK OF THE BANK OF ALGERIA: AN ANALYSIS OF THE MONETARY AND BANKING LAW 23-09
Abstract
The banking system constitutes the backbone of economic activity and plays a vital role in promoting economic development. A prosperous economy cannot exist without a well-developed and efficient banking sector. In this context, the Algerian legislature has undertaken a series of regulatory and structural reforms aimed at strengthening the banking system. Law No. 23-09 on monetary and banking matters introduced several key reforms, notably assigning the Bank of Algeria the responsibility of serving the public interest by steering monetary policy in alignment with national priorities. These reforms also seek to enhance the resilience of the banking sector against sudden financial shocks and to improve the competitiveness and operational efficiency of banks. This study primarily adopts an analytical approach to examine the relevant legal texts, complemented by a descriptive methodology.
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References
Act No. 23-09 of 21 June 2023 contains the Monetary and Banking Code. Official Gazette, No. 43, 27 June 2023.
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