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July 23, 2025 | 2 months ago
Bank of Algeria: AGB now on the list of banks authorized to reserve exchange rights for travellers
ALGIERS - Gulf Bank Algérie (AGB) has been added to the list of banks authorized to reserve the new foreign exchange right for resident citizens wishing to travel abroad, the Bank of Algeria announced in a press release on Tuesday.
This move is part of the implementation of Instruction 05-2025 on foreign exchange duty for travel abroad, recently signed by the Governor of the Bank of Algeria, Mr Salah Eddine Taleb, in application of a decision by the President of the Republic, Mr Abdelmadjid Tebboune.
The maximum annual exchange fee has been set at €750 (or equivalent amount in freely convertible currencies) for adults aged 19 and over, and € 300 for minors aged between 12 and 19. This right is granted annually for a stay abroad of seven (7) days or more.
The list of authorized banks currently includes: Banque nationale d'Algérie (BNA), Banque de l'agriculture et du développement rural (BADR), Caisse nationale d'épargne et de prévoyance (CNEP-Banque), Banque extérieure d'Algérie (BEA), Banque de développement local (BDL), Crédit populaire d'Algérie and Banque Gulf Bank Algérie (AGB), added as of today. This list may be extended at a later date, according to the press release.
The operation was officially launched last Sunday at the Banque d'Algérie branch in Zighoud Youcef (Algiers), in parallel with its launch at all the branches and agencies of the banks concerned throughout the country.
The Banque d'Algérie stated that it had mobilized the necessary logistical resources and ensured adequate organizational conditions to guarantee the comfort of citizens and the smooth operations.
According to the instruction to obtain this right, a file must be submitted, including a valid passport, a return ticket (or receipt of the land travel tax), and, if applicable, a copy of a valid visa. The corresponding amount in Algerian dinars must be deposited with the relevant bank no later than three (3) working days before the date of travel.
The amount in foreign currency will then be remitted by Banque d'Algérie counters located at border crossings (land, air and sea) on presentation of the receipt for payment of the equivalent in Algerian dinars of the exchange fee, the beneficiary's valid passport and the boarding pass (the latter is not required for overland travellers).
Since the launch of the operation, banks have seen a remarkable influx of citizens who have expressed their satisfaction with this decision.
According to their testimonies gathered by APS, this measure should increase travellers' ability to cover their expenses abroad and reduce reliance on the parallel market.
July 23, 2025 | 
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