Algerian bank urges international card issuance
The Bank of Algeria announced a new system for international payment cards, with the central bank instructing banks to facilitate the issuance of these cards for citizens wishing to utilize their travel currency entitlement abroad. This directive aims to reduce dependence on cash and improve the tracking of hard currency usage, with the entitlement amount set at 750 euros for adults and 300 euros for children aged 12 to 19. Specific procedures are required for issuing the card and linking it to a foreign currency account. The new system seeks to make it easier for citizens to travel, regulate currency transactions, and reduce the unauthorized cash transactions that had been occurring.
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