From 2008 to 2011, FSVC implemented a regional program funded by MEPI to establish international standards in banking supervision, including in Algeria.
In Algeria, FSVC provided technical assistance to representatives of the Bank of Algeria (Banque d’Algerie – BdA) to draft appropriate examination guidelines on risk-based approach to supervision and train the BdA in implementing and applying these standards. FSVC also assisted the BdA in assessing the internal controls of commercial banks. FSVC’s program helped improve transparency, governance and risk management in the Algerian financial sector.
- BdA adopted new bank examination standards in line with international best practices;
- BdA implemented a pilot project for a new bank risk-rating system, based on international standards in risk-based supervision; and
- U.S. FDIC volunteer experts seconded to FSVC at the time helped a BdA working group draft examiner guidelines on the liquidity and management aspects of the U.S. CAMELS risk-based approach to supervision, and trained 40 BdA examiners on applying these standards.