New system of guarantee of bank deposits

Elaboration of the new system of the bank deposit guarantee fund Journal Al-Wasat Khobar Trading Algeria Times We are also trying to focus on the latest Arab issues, the delimitation of the new deposit guarantee scheme, and the demarcation of the new deposit guarantee scheme.
According to this new text modifying the 2004 law, the maximum amount of compensation granted to each depositor is limited to 2 million dinars (2 million dirhams) against 600,000 dinars previously.
This fund is managed by a corporation
Banks must subscribe to the capital of the bank deposit guarantee company which is also distributed to them.
The law provides for the beginning of the liquidation of a bank of shareholders and the commencement of the depositors' compensation proceedings after the reduction of depositors. The capital of the company guaranteeing bank deposits in respect of the share capital of the bank concerned in accordance with the law
Banks are also required to pay the deposit insurance company an annual premium calculated on the basis of the total amount of deposits in national currency recorded on 31 December of each year.
The percentage of this premium is determined annually by the Marks of Surveillance
According to the same text, the bank deposit guarantee company entrusted with the management of the fund will ensure that the sums due to the guarantee fund are collected. and deposited in a large account with the Bank of Algeria.
They should also check the use of these available resources in secure assets.
The bank deposit guarantee scheme was introduced in 2004 with the aim of compensating depositors in the absence of their bank deposits.
On this basis, domestic banks as well as branches of foreign banks operating in Algeria must adhere to the deposit guarantee scheme.