Effect of Global Crisis in Algerian Banking System

The banking system in Algeria has not been directly affected by the global financial crisis in 2008, because "not much exposed" to the risks of international financial markets, declared Friday in Dakar Bank of Algeria's Governor Mohamed Laksassi. "The stability of the banking system during the second half of the 2000's benefited from cautious macro-financial policies, especially as regards savings glut," Laksassi said at a conference on the "Role of African central banks in financial system regulation and stability," organized as part of the annual meetings of the Association of African Central Banks. –APS