Activities of the National Investment Fund FNI - Of Algeria
Article 2:
To achieve its project, the bank - National Investment Fund FNI:
1. Grant
in all forms or undertaking to grant investment loans of no more than 30 years
in any case, so that they are restricted by the conditions of the contribution
of interest or the possibility of conversion to shares or grants of dividends
or on the terms of the same Founder.
2.
To guarantee or undertake to guarantee, mobilize, pledge to mobilize and assist
in the collection of loans granted by banks or national financial institutions,
foreign or international.
3.
All loan, recovery from banks or financial institutions, upon their request or
with their approval, to extend all loans in force, to make payments to banks
and financial institutions to pay outstanding loans, and to replace all
institutions in order to facilitate the financing of investments.
4. Intervention
in all forms in order to grant all loans in order to facilitate the
implementation of transactions concluded by the State and such groups and
public institutions.
5. Provide
assistance to the State to carry out all loan operations, in its favor or in
its favor, or to interfere in such transactions in order to facilitate the
achievement and grant its security to the State.
6. Implementing
each loan process, with or without guarantee, for foreign or international
financial institutions or departments.
7. Promote
the establishment of companies with joint sponsorship in order to facilitate
the processing of small and medium enterprises and cooperatives and the
granting or guarantee of equipment loans, so that the responsibility of such
institutions.
8. Taking
or directing all contributions to the institutions of the State and the
representation of the State on the boards of directors and the general
assemblies of the institutions where the State has a contribution and exercise
all the powers related to such representation.
9. Formation
and operation of all joint-stock companies and all trade unions entrusted with
studies of security or the employment of money in such trade unions.
10. To
subscribe, acquire, acquire, save, mortgage, exchange, lend, lend, employ, and
transfer.
11. Securing
financial services for all bonds and establishing, managing or securing joint
funds for deposit.
12. Intervene
with all qualities in loans issued to finance investments.
13. Issuance
of certificates conferring on its owners or holders the rights of shares owned
by the Bank, except for the right to vote, employ and transfer them.
14. Guarantee
a minimum profit for the shares of the institutions in which the bank owns a
contribution and guarantee the payment of capital or payment of the interest of
the debt on the bonds and the fund divisions issued by these institutions.
15. Provide
assistance in all forms to facilitate the purchase or import of equipment items
or the establishment of factories.
16. Studying
or assigning each project to establish or expand, modernize, reorganize or
transform industrial or agricultural enterprises
.17. Establish,
purchase, partner with, manage, integrate, liquidate, provide, take money,
grant for management or rent, purchase, lease, mortgage, rent and bring in all
shops and establish separate departments with independent financial resources.
18. Where
the Bank has a share in the capital of a company, and unless otherwise
provided, it shall be represented in the organs of the company in proportion to
its contribution and shall ensure the conduct of its representatives without
being personally shareholders or shares.
19. Acquiring,
retrieving, assigning, acquiring, taking, buying, bringing in and surrendering
all patents or marks of production, obtaining, assigning, delivering and
selling all licenses of the public authorities, buying or leasing all movable
and real estate of existing or under-established enterprises , Waiver, bring,
lease or mortgage them.
20. Organization
and management of common services for several institutions.
21. Distributing
to beneficiaries the benefits granted to them in the context of investment
promotion.
22. Owning
and managing assets in foreign currency for the purpose of performing his
duties or guaranteeing foreign investments.
23. Studying
all operations carried out by the Fund within the framework of its liquidity or
portfolio management.
Article 3
The Bank can not
process bank transactions other than those necessary to perform its functions.
Article 4
The government can
direct the bank to the financial management of the public processing program,
which is subject to independent accounting based on public accounting rules.
Article 5:
The Bank is qualified
to establish specialized branches in one field or in many areas of its activity.
Article 6:
The Bank shall
receive a financial allocation, the amount of which shall be determined by law.
Article 7:
Moreover, the bank
can:
• Issuing
short-term or long-term bonds and the Fund's fractions: The State may grant its
guarantee to these loans either by paying the capital or by paying interest.
• Deposit of
investment certificates for a maximum period of 5 years at the banks whether in
the form of bonds or current accounts with the Central Bank of Algeria. These
certificates can be within the minimum state bond imposed on banks.
• Borrowing in
all forms in Algeria or abroad, allowing the Minister of Finance to grant the
Bank advances of funds ready for the Treasury, whose conditions are set outside
the scope of the grant.
• Receiving all
private funds of national, foreign or international origin intended for
investment financing and, in general, the development of the Algerian economy.
.
Article 8:
The amount of
deposits and trusts regulated by Decree No. 62-159 of 31 December 1962 shall be
granted to the Bank to be operated separately according to the modalities to be
determined by agreements concluded with the Minister of Finance.
The bank can collect
all other savings, private or collective, that benefit from special protection,
especially the funds of institutions that run a reserve system.
Article 9:
The bank may re-issue
the securities in the portfolio to all banks or financial institutions as well
as assign them to third parties, mortgage them and guarantee their fate.
Article 10:
The Central Bank can
not resort to a refund and grant of loans provided for in Article 45 of its
internal law, unless authorized by the Minister of Finance and if the document
is signed by the Algerian Development Bank, provided that the document is
protected by the state.
Article 11:
Bonds issued or
guaranteed by the Bank as well as the bonds to be signed are the permitted use
of institutions and bodies that legally regulate their deposits.
Article 12:
The finance minister
must authorize loans and bank issues.
Article 13:
The Bank's
undertakings, especially borrowing and guaranteeing them, can benefit from
state security, by decree.
Supervision -
Management and control of the National Investment Fund (FNI)
Article 14:
The Algerian
Development Bank is managed within the framework of the plans and development
program as directed by the Minister of Finance, his instructions and
instructions.
Article 15:
The management of the
Algerian Development Bank:
• The head of a
general manager assisted by an Assistant Director General, appointed by decree
at the suggestion of the Minister of Finance.
• The Board of
Directors, which includes, in addition to the President, the Director General
and the Assistant Director General:
• Representative
of the State Planning Office
• Representative
of the Minister on matters on the agenda
• Representative
of the Central Bank.
• The Treasury
and Loan Manager or his representative
• Representative
of the Algerian National Bank
• Representative
of the Algerian popular loan
• Representative
of the Algerian Foreign Bank
• The Minister
of Finance may delegate another person for the purpose of being represented at
any meeting of the Board.
Article 16:
The Board of
Directors, chaired by the President and the Director General of the Algerian
Development Bank, shall meet whenever the interest of the Bank so requires, at
least once every two months.
• It meets in
extraordinary fashion with a summons from the Minister of Finance or from the President
and the Director General of the Bank.
• The President
shall determine the points to be included in the agenda of the meetings and
automatically record the points proposed by the Minister of Finance.
Decisions are taken
by majority.
• The deliberations
of the Board shall be recorded in minutes recorded in a special book and signed
by the Chairman of the session as well as the members present. A copy of the
minutes is sent to the Minister of Finance.
• The President,
the Director General of the Bank or the Director-General, shall sign copies or
summaries of the proceedings.
Article 17:
• The Council
shall have the powers of administration, within the competence of the Algerian
Development Bank, as well as the directives and instructions of the Minister of
Finance for the implementation of development plans.
• Discusses the
bank's annual financing plan and examines the bank's issuance and loans.
• Discusses the
general organization of the Bank and approves the internal regulations.
• Establishes
the Staff Statutes as well as the accounting scheme.
• Decides the
budget of the Bank and makes the necessary adjustments during the year.
• Annual
accounts are checked after being examined by the technical committee of the
banking institutions and the Ministry of Finance.
• Examines loan
operations.
• The Council
may establish competent committees and define its powers and powers.
Article 18:
• The President
entrusts the Director General with the management and implementation of the
Bank's policy as well as implementing the decisions of the Board of Directors.
• The Bank
represents third parties and may sign or conclude all contracts, documents, correspondence
or agreements
• The bank
represents the judiciary and carries out all precautionary or executive
measures.
• The Bank may
make reconciliation and settlement based on a corresponding opinion of the
Board of Directors
• Appoints and
dismisses employees, under the Basic Law.
• The Board of
Directors is presented at regular intervals to the list of ongoing pledges and
periodically reports to the Minister of Finance regarding the implementation of
the Bank's policy.
Article 19:
The Assistant General
Manager shall represent the Bank to third parties and sign all contracts,
documents, correspondence or agreements alone in accordance with the decisions
of the Chairman General Manager, but without justification to others.
Article 20:
• The President,
the Director-General and the Assistant Director-General shall receive a
remuneration determined by decree issued by the Minister of Finance. The latter
shall determine the conditions for obtaining representation compensation and
compensation for their extraordinary expenses.
• The President,
the Director-General and the Assistant Director-General, shall continue to be
paid only in case of resignation, in accordance with applicable texts. So that
such remuneration can not be combined with the pay related to the public or
private function assigned to them during this period.
Article 21:
• The governor
of the accounts, appointed by the Minister of Finance, shall be responsible for
monitoring the accounts of the Bank and shall attend the meetings of the Board
without the right to vote.
• The Governing
Council takes note of the outcome of its audits and submits a report on the
end-of-year accounts to the Minister of Finance and the Technical Committee of
Banking Institutions.
Different provisions
Article 22:
• The Bank may
obtain the assistance of public administrations with respect to the
information, investigations or monitoring necessary for the beneficiaries of
the assistance granted by the Bank.
• The Bank is
consulted regarding the preparation of annual import programs and is involved
in the study and delivery of development plans and programs. Economic
development.
Article 23:
• The Bank shall
be the representative of the State in respect of the rules of taxation and
entitlements relating to all taxes, duties, rights, collection or tax costs of
whatever nature.
• All stamped
and stamped documents, all contracts and bonds, and generally all judicial or
non-judicial documents in which the Bank intervenes, are exempt from stamp duty.
Article 24:
The company's year
starts on the first of January and ends on December 31st. The first fiscal year
ends on the 31st of December of the year following the establishment of the
bank.
At the end of the
financial year,
1. Special
accounts for separate management
2. General
proceeds of the Bank
Article 25:
The material products
of the separate management operations, obtained after deducting them from each
consumption, expense or money, shall be granted to these departments according
to the respective regulations.
The Bank's products
are:
• 20% is
reserved for legal reserve
• 100% reserve
is reserved for any general risk
• A decree is
issued on the proposal of the Minister of Finance, which decides to allocate
the balance
Article 26:
The Bank prepares an
annual activity report which is attached to a special report on the processing
budget.
Article 27:
In case of
dissolution of the bank, its property is granted to the State.
Article 28:
After deliberation on
this law and its ratification by the National Constituent Assembly, it will be
published in the Official Gazette of the People's Democratic Republic of
Algeria and will be implemented as a state law.
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