Import controls: Thus says the new rating of the Bank … – TSA – All About Algeria

The Bank of Algeria has sent a note Monday, March 14 banks on strengthening import and export controls operations. The document, signed by the Chief Ali Mustapha exchange and in which we have an accurate copy: “As of March 15, 2016, any final act of domiciliation of an import or export of goods or services is subject to the prior satisfaction of the pre-clearance procedures electronically that each economic operator Algerian law must fulfill “.

the Bank of Algeria said that” this process upstream of the final act domiciliation involves the completion of a formality of registration and validation of electronic pre-clearance of foreign trade operation, through access by the economic operator to the website of the paying bank, intermediary approved “.

the Bank of Algeria said that this measure aims to strengthen control over foreign trade operations. The establishment of an electronic platform centrally from a bank (…) has the advantage of allowing the strengthening and consolidating the prior control under its responsibility, “says Ali Mustapha in his note of three pages. He added that this electronic solution “is limited to defined and recognized operators” and aims to “maximize the permanent control of foreign trade operations, before any debit.”

The Bank Algeria reminds banks before any debit, including banks must “ensure the regularity of the foreign trade transaction under the laws and regulations; the operator / customer has sufficient financial resources through the study of a duly constituted for this purpose folder, and which must include the balance sheet and cash income statements as reported to the tax authorities; to assess the solvency of the operator / customer. “

The Bank of Algeria stipulates that banks must have in particular” a permanent monitoring system especially for the sheet commitments related to operations foreign trade, countries are not transparent about the tax system, compliance with legal and regulatory requirements applicable in the prevention and fight against money laundering and terrorist financing “.