BY: Hana Saada
ALGIERS- The Minister of Finance, Laaziz Faid, welcomed, on Wednesday, a delegation from Citigroup, an American financial company, that pledged to enhance their collaboration with Algeria. The meeting between the Minister and the Citigroup delegation, led by David Livingstone, Managing Director for the Europe, Middle East, and Africa region, focused on the current state of cooperation between the two entities in the banking sector and ways to strengthen it.
The parties also discussed the future prospects for the development of the banking sector in Algeria, particularly in the context of global uncertainties. During the meeting, Faid presented an overview of the reforms undertaken by the public authorities to create an investment-friendly environment. He emphasized that the new bill on currency and credit is part of a series of reforms aimed at strengthening the governance and transparency of the banking system, ensuring the efficiency of financial operations, and aligning with international standards.
Faid expressed his desire to see private banks play a more active role in mobilizing savings and promoting productive investment in Algeria. Citigroup’s representative reaffirmed the institution’s commitment to strengthening future collaboration with Algeria through mutually beneficial actions.
David Livingstone welcomed Algeria’s efforts towards the development of the financial sector, as highlighted in the press release. The meeting was a positive step towards enhancing the partnership between Citigroup and Algeria, and it is hoped that this collaboration will continue to grow in the future.
