✏️ BY: Dr. Hana Saada
Algiers, Algeria | May 19, 2024 — The inauguration of the National Housing Bank, abbreviated in Algeria as (BNH), marks a significant leap forward in Algeria’s housing and real estate finance sector. At the launch event in Algiers, attended by Said Attia, the Secretary General of the Ministry of Housing, Urbanism, and the City, the pivotal role of BNH in financing the housing sector was underscored, aligning with President Abdelmadjid Tebboune’s commitment to revitalizing the sector.
Diversifying Housing Finance
BNH aims to diversify funding sources for housing, construction, and real estate promotion, catering to both public and private operators. A key initiative is the introduction of regulated housing savings, providing savers with tax incentives to acquire homes.
Mr. Attia praised BNH’s commitment to expanding its banking network, primarily through the branches of the former Caisse Nationale de Logement (CNL), now part of BNH.
A Fruitful Transition
BNH emerges from the transformation of CNL, a public industrial and commercial enterprise, into a banking institution with a capital of 80 billion DA. Ahmed Belayat, the bank’s Director-General, highlighted the extensive preparatory steps taken over 20 months, including staff training and organizational structure development.
In conjunction with the “AADL 3” program launch, BNH will lead a coalition of public banks to finance the initiative.
Expanding Reach and Mission
BNH plans to establish around 50 branches in the medium term, expanding to cities such as Béchar, Boumerdès, Sétif, and others. Governor Salaheddine Taleb emphasized BNH’s role in driving economic growth, employment, and financial inclusion.
A Robust Financial Sector
Taleb praised Algeria’s banking sector resilience, attributing it to high capitalization, profitability, and liquidity levels.
BNH has signed agreements to open bank accounts for AADL, ENPI, and OPGI in the Algiers province.
With its 80 billion DA capital, BNH aims to provide financing for housing and building sectors, offering subsidized interest rates for promotional housing purchases and facilitating construction projects.
Moreover, BNH will develop consumer credit offers, explore Islamic finance products, and digital banking services.
As CNL’s successor, BNH will continue supporting approved state programs, including rural housing and social housing projects, while expanding its network to provinces with significant real estate activity.
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