Algeria to Launch Postal Bank to Expand Financial Inclusion

On Wednesday, June 11, the Algerian government announced plans to create a Postal Bank as a subsidiary of Algeria Post, aiming to broaden access to banking services, especially in underbanked regions, as part of its efforts to modernize the national financial sector.

The announcement, made following a government meeting chaired by Prime Minister Nadir Larbaoui, highlighted the new Postal Bank as a strategic tool to bring banking services closer to citizens in remote areas. The initiative is expected to encourage personal savings and provide financial services adapted to diverse user needs.

The move aligns with broader reforms to promote financial inclusion and support socioeconomic development. The statement, relayed by the official news agency APS, framed the Postal Bank as a key milestone in enhancing Algeria's financial infrastructure.

During the same meeting, the government reviewed progress on several complementary development programs targeting specific wilayas. These are designed to address regional disparities, enhance public services, and stimulate local economies.

The cabinet was also briefed on efforts to connect farms and strategic agricultural projects to the national electricity grid—an essential component of Algeria’s food security strategy. Officials stressed the use of innovative technologies and state-backed resources to overcome logistical hurdles in energy delivery.