Algeria formalizes currency smuggling

The government put a set of conditions to regulate foreign trade and hard currency by linking importing and exporting operations to licenses. Yet, those licenses are used by operators to smuggle currency under the cover of importing operations.

A draft law on importing and exporting rules is expected to be discussed by Parliament. It determined main points to regulate importing and exporting operations so that licenses will not be required.

Importing or exporting licenses authorize any operation who meets legal requirements to import or export goods.

Any economic operator who meets requirements is allowed to ask for license and the request should be taken in consideration. If the license is not granted,  reasons should be justified and the operator should be informed.

by echourouk DZ