Algerian real estate agencies mobilized to combat money laundering and informal market practices
via Alg茅rie3603 min read
Algeria is intensifying efforts to combat money laundering and terrorist financing, aiming to exit the Financial Action Task Force FATF grey list. The National Federation of Real Estate Agencies FNAI has mobilized 1,900 approved agencies across the country to identify suspicious transactions and illicit capital. The real estate sector is considered highly vulnerable to money laundering. The FNAI also highlights the rapid expansion of the informal market, with 80% to 90% of real estate transactions occurring outside regulated professional channels, often through unapproved intermediaries or social media. The Federation anticipates a decrease in real estate prices in the coming months, contingent on the distribution of "AADL 3" housing units, which is expected to alleviate demand in the free market. The president of the FNAI confirmed that the 1,900 approved agencies are now part of a national vigilance system. Their mission is to report any suspicious transactions to enhance transparency and comply with international standards. Real estate agents are crucial in detecting red flags regarding the origin of funds, especially during negotiations before official notarized acts. Agents are legally obligated to notify authorities if they suspect transactions involve large cash amounts without clear justification, clients cannot prove capital origin, or there is a disproportionate difference between property value and declared amount. Frequent sales and purchases over short periods wi
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France maintained its position as the leading importer of Algerian crude oil transported by sea in the first half of 2026, with an average of 62,000 barrels per day, accounting for nearly 16% of Algeria's maritime crude exports. Spain followed with 56,000 barrels per day, and South Korea ranked third with 46,000 barrels daily. The United Kingdom imported 45,000 barrels per day, and the Netherlands 38,000 barrels daily. These five countries collectively received almost 64% of Algeria's crude oil exports. Algeria's crude oil exports averaged 388,000 barrels per day during the first six months of the year, despite national production increasing to 977,000 barrels daily. In June, production peaked at 987,000 barrels per day, its highest level in three years, due to eased voluntary production cuts under the OPEC+ alliance. However, export volumes were lower than in previous years, with 416,000 barrels per day in the first half of 2024 and 447,000 barrels daily in the same period of 2025. This trend is attributed to Algeria's strategy of developing local refining to export more processed petroleum products, which generate higher added value. While France's purchases decreased from 76,000 to 62,000 barrels per day, and Spain's fell from 88,000 to 56,000 barrels daily, South Korea saw a 31.4% increase in imports, from 35,000 to 46,000 barrels per day. The Netherlands experienced the largest increase among Algeria's main clients, with purchases rising from 14,000 to 38,000 barrels dai
Must ReadAn electrical spark from an air conditioner is believed to be the cause of a fire at the Mohammadia assisted children's establishment in Algiers on July 16, 2026, which resulted in 11 deaths, including 10 children and a 52-year-old educator. The General Directorate of National Security DGSN stated that specialized teams opened an investigation immediately after the incident. Initial findings from scientific police experts and crime scene technicians indicate the fire originated from an electrical spark in an air conditioner located in a first-floor room. The National Security clarified that the spark was linked to the continuous operation of the appliance amid high temperatures. The investigation remains open to determine all circumstances and establish any responsibilities. Following the fire, the Ministry of National Solidarity, Family and Women's Affairs, led by Minister Soraya Mouloudji, held an emergency meeting. Measures include monitoring the care of the injured, relocating children to alternative facilities, establishing a national risk monitoring and management unit, harmonizing safety standards in sector establishments, and strengthening staff training in prevention and emergency response in coordination with Civil Protection. A centralized digital mechanism will also be implemented to track safety measure application. The minister praised the efforts of the establishment's staff and on-duty team for protecting children during the fire.
Must ReadSpanish Prime Minister Pedro S谩nchez is scheduled to visit Algeria next week, accompanied by representatives from four major Spanish energy groups: Naturgy, Repsol, Enag谩s, and Moeve. This delegation highlights the importance of natural gas in the relationship between the two countries, and also signals a new focus on low-carbon energies and green hydrogen. The visit follows a period of diplomatic tension that began in 2022 after Spain's shift in stance on Western Sahara, leading to the recall of the Algerian ambassador and a freeze in trade. Despite the diplomatic challenges, Algerian natural gas continued to flow to Spain via the Medgaz pipeline, sustained by long-term contracts. This energy pragmatism paved the way for normalization, with Algerian President Abdelmadjid Tebboune referring to Spain as a "friendly country" in February 2025. The accompanying companies reflect the breadth of economic ties. Naturgy has a historical relationship with Sonatrach, which holds a stake in the Spanish company. Repsol collaborates with Sonatrach on hydrocarbon exploration and production. Enag谩s is a partner in Medgaz, which transports Algerian gas to Spain. Moeve, formerly Cepsa, represents the future-oriented aspect of cooperation, focusing on sustainable fuels, low-carbon molecules, and green hydrogen. The presence of Moeve in the delegation underscores the potential for green hydrogen to become a new area of energy cooperation. Algeria's abundant sunshine, vast land, and strategic lo