VOL. XLVI

No 35

01-September-2003

ALGERIA

REGIONAL BANKING

Second Private Bank Shut Down In Algeria

A second private bank was shut down in Algeria when the Banque dAlgérie announced on 21 August that it had withdrawn the operating license of Banque Commerciale et Industrielle dAlgérie (BCIA) due to the banks insolvency. The license was withdrawn after a disciplinary hearing in which the banks shareholders failed to lend financial support, as requested by the Banking Commission, which is part of...