Legal regulations for establishing digital banks in Algeria

Abstract

Amid the rapid developments currently taking place in the banking sector, and in response to the need to enhance innovation in digital banking services in line with global digital transformation, Law No.09/23 on monetary and banking legislation introduced the decision to grant licenses for the establishment and recognition of digital banks. This regulatory step aims to promote the use of modern financial technologies in the banking sector. The licencing and subsequent recognition of digital banks are based on a legal and regulatory framework that outlines the conditions and procedures that intersted parties must adhere to both to protect customers rights And to ensure the security and stability of the banking sector.