Activities of the National Investment Fund FNI

Activities of the National Investment Fund FNI

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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Activities of the National Investment Fund FNI Activities of the National Investment Fund FNI Reviewed by Pedro on May 09, 2019 Rating: 5

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