Anti-money laundering provisions in Algeria require payments for certain purchases of real estate, goods, and services to be completed via the banking system. Effective 1 July 2015, payments that exceeding a threshold amount must be completed via the banking system when the purchase amount exceeds: (1) DZD 5 million (approximately U.S. $50,000) for real estate purchases; or (2) DZD 1 million (approximately U.S. $10,000) for purchases of goods and services. Non-compliance with these provisions could result in the application of Algeria’s sanctions against money laundering and terrorist financing.
There are new measures controlling the activity of new car dealers in Algeria. Specifically, the provisions require that automobile dealers:
Authorized dealers in Algeria must comply with these provisions within a 12-month period from the decree’s official publication date.
Read a July 2015 report provided by KPMG International.
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