🇩🇿AlgeriaNorth Africa
Algeria to amend commercial law, introduce 'black list' for business activities
via Algérie3604 min read
The Algerian government is preparing to amend and supplement Law No. 04-08 of August 14, 2004, concerning the conditions for exercising commercial activities. This legislative project aligns with Algeria's international commitments, particularly the recommendations of the Financial Action Task Force FATF regarding the fight against money laundering and the financing of terrorism. The proposed law includes the creation and expansion of a "black list" of individuals and entities prohibited from engaging in commercial activities. This list will integrate into the existing legal framework, adding categories such as individuals involved in tax fraud, money laundering, financing of terrorism and subversion, or financing the proliferation of weapons of mass destruction. Restrictions will also apply to those on unified sanctions lists or national lists of terrorist individuals and entities, as well as those involved in capital movement offenses and drug trafficking. Individuals proven to be involved in these offenses will be permanently excluded from the commercial sector, unless rehabilitated through legal procedures. Another key amendment introduces a new article, 4 bis, requiring all merchants, whether individuals or legal entities, to update their trade register extract within one month of any change in recorded data or company statutes. This aims to ensure immediate updates and prevent inaccurate information, promoting transparency. Violations of this provision will incur financ
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This summary was AI-generated from a story originally published by Algérie360.
Must ReadAlgerian President Abdelmadjid Tebboune chaired a high-level meeting on June 1, 2026, focusing on major structural projects in hydrocarbons, petrochemicals, and transport infrastructure. Key officials present included Prime Minister Saïfi Ghrieb, Minister of State for Hydrocarbons Mohamed Arkab, Minister of Finance Abdelkrim Bouzered, Bank of Algeria Governor Mohamed Lamine Lebbou, and Sonatrach CEO Noureddine Daoudi. The meeting addressed the integrated phosphate project, which will produce ammonia, urea, and phosphatic and nitrogenous fertilizers. This project is slated to begin production in the first quarter of 2027, coinciding with the completion of the Annaba port expansion, enabling phosphate exports. Additionally, the President set September 2026 as the launch date for construction of the trans-Saharan railway line connecting Algiers to Tamanrasset. To expedite completion, the project will be divided into three simultaneous construction sites: Ouargla to In Salah, In Salah to Tamanrasset, and Tamanrasset to In Salah. This intersectoral coordination, involving financial, industrial, and local authorities, aims to ensure timely execution of these projects, which are deemed vital for Algeria's economic sovereignty and the development of its southern regions.
Algerian passport holders can access 55 destinations worldwide without a prior visa, including options for free access, e-visa, or visa on arrival. For summer 2026, five countries are highlighted as top visa-free destinations. Malaysia offers visa-free stays for up to 90 days, with the east coast islands like Perhentian and Redang being ideal in summer due to favorable weather. The Maldives provide a free 30-day visa on arrival, and summer is an opportune time to visit due to lower hotel prices despite brief tropical showers. Tunisia remains a consistently accessible option, offering a mix of festive resorts and cultural sites like Carthage and Sidi Bou Saïd. Kenya requires an electronic travel authorization eTA online and is excellent in summer for witnessing the Great Migration in the Masai Mara, alongside coastal relaxation in Diani Beach or exploring Lamu. Oman offers a visa exemption for stays under 14 days, provided certain insurance and booking conditions are met. During summer, travelers can escape the heat of Muscat by visiting Salalah in the south, where the "Khareef" phenomenon brings cooler temperatures and transforms the desert into a green landscape.
Algeria's national football team is set to play a demanding friendly match against the Netherlands at De Kuip stadium in Rotterdam. This encounter is a significant test for coach Vladimir Petkovic's squad as they prepare for the 2026 World Cup, particularly their opening match against Argentina on June 17 in Kansas City. Petkovic plans to implement a 3-5-2 formation, aiming to strengthen the central corridor, densify the midfield, and limit defensive spaces, a strategy he intends to use against the reigning world champions. This match marks the first time Algeria and the Netherlands have ever played each other, either officially or in a friendly. The Netherlands, ranked seventh in FIFA, are considered strong contenders for the World Cup title. Their squad includes prominent players like Virgil van Dijk, Dumfries, De Vrij, Schouten, Timber, Gakpo, Simons, Milan, and Brobbey. Coach Ronald Koeman will be making his World Cup debut as a national team coach. The Dutch team has been on a positive streak since October 2024, with victories against Finland, Malta, Lithuania, and Norway, alongside two draws against Poland. Following this match, Algeria will have another friendly against Bolivia on June 10. Algeria's World Cup Group J schedule includes matches against Argentina on June 17, Jordan on June 23 in Santa Clara, and Austria on June 28 in Kansas City. A strong performance against the Netherlands is seen as crucial for building psychological momentum before facing Argentina.
Must ReadAlgerian businessman Mahieddine Tahkout has been sentenced to 10 years in prison by the Economic and Financial Penal Court of Sidi M'hamed. The court also imposed a fine of 8 million Algerian dinars and ordered the confiscation of all his assets, including real estate, movable property, and bank accounts. The judgment includes the seizure of assets identified through international letters rogatory, particularly those located in Switzerland. Tahkout is also required to pay 100 million dinars to the Public Treasury as compensation for damages caused by the embezzlement of public funds. The investigation revealed that Tahkout held foreign bank accounts containing over a billion euros and owned luxury apartments in Switzerland. He was convicted of falsifying private documents, money laundering within a structured criminal organization, exploiting his professional activities to facilitate these crimes, and complicity in the embezzlement of public funds. Additional charges included laundering proceeds from corruption crimes within an organized criminal group and violating foreign exchange regulations. He was also accused of concealing financial proceeds from illegal activities. This case is part of ongoing efforts to combat corruption and illicit financial flows in Algeria, targeting several former businessmen linked to "la Issaba."