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Foreign financial institutions open branches in Algeria
Algeria, Economics, 1/12/1998
Despite the unrest in Algeria that has been going on for five years and which has killed more than 60,000 Algerians, foreign financial institutions have opened branches in the Algerian capital.
The first of those institutions is the US Citibank company which raised the representation of its branch in Algeria to make it a complete bank. The second institution is the French Societe General. The third is the Arab Banking Institution, which has its headquarters in Bahrain.
Opening those institutions comes within the efforts exerted by the Algerian authorities to attract foreign investment, especially to the gas and oil sector where there is a great deal of development.
Previous Stories:
Algerian condition and economy improving
(1/5/1998)
Stronger economic and trade ties between the US and Algeria
(12/25/1997)
Algeria puts 300 public establishments up for sale
(12/13/1997)
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