Algiers:The Bank of Algeria has introduced a new regulation to manage gold operations within the country's banking system. This marks the first time such rules have been established, as detailed in Regulation No. 26-04, published in the Official Gazette No. 77 on November 4, 2026.
According to Africa News Agency, the regulation permits commercial banks and financial institutions to engage in buying and selling gold on both spot and forward terms. Additionally, these institutions are now authorized to hold deposits, open accounts specifically for gold, use gold as collateral, and offer gold-backed financing.
The regulation also mandates that locally sourced gold must adhere to national valuation standards. This includes stringent checks on the gold's purity, origin, and traceability to ensure compliance and maintain integrity within the banking system.