The Legal System Of Digital Banks In Algerian Legislation

Abstract

In light of the rapid developments occurring in the word of banking technology, the digital transformation banking transactions has become an essential necessity, this has led to the emergence of what are known as digital banks which have gained the trust of customers especially during the COVID-19 pandemic. For this reason, Algerian banks are exerting efforts to reorganize and manage banking sector operations while adopting digital banking services, monetary and banking council has enacted regulation No.24-04 concerning the specific conditions for licensing establishment, accreditation, and operation digital banking activities. accordance with the Monetary and banking, law No23-09,These banks perform the same operations traditional banks, but rely on electronic means such, the internet and mobile application, to engage in this activity two interrelated procedures are required; licensing and accreditation; these banks will protect customers, ensure the security financial data save time and effort, and provide services at any time and anywhere.