Algeria, Spain seal two financial deals

APS : Tuesday, 14 February 2017
ALGIERS- Two financial agreements have been inked Tuesday in Algiers between the ministry of Finance and Spanish financial institutions for the upgrading of the information system and financial markets.
The contracts will be financed by the Algerian-Spanish Fund for the development of the convention on conversion of Algerian debts to Spain, signed in June 2006.
The first contact, of a value EUR7.2 million, is about the acquisition of financial market information systems (Algiers Stock Exchange and financial intermediaries).
It was concluded between the Treasury management and Spanish consortium BME Innova-AFI (Analistas Financieros Internacionales).
The deal was signed by the general manager of the treasury, Fayçal Tadinit, and the director of the BME Innova, Maria Paugas, and the manager of AFI, Javier Pordas.
The signing ceremony was attended by the deputy minister at the ministry of Finance for digital economy and modernization of the financial system, Mouatassam Boudiaf, and Spain’s Ambassador to Algiers, Alejandro Polanco Matas.
The project is aimed at raising the Algerian financial market to international standards and ensuring security and competitiveness, through the creation of a reference system for supervision and regulation.
The second contract, valued at EUR5.3 million, is about the computerization of payment systems at the General Directorate of Accounting.
It was signed by the general manager of the Accounting Department at the ministry of Finance, Mohamed Larbi Ghanem, and the managers of AFI, RSI and Nessa, which are Spanish engineering departments, specialized in bank computing and modernisation of financial systems.

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