Sunday, May 27, 2007

Algeria says HSBC wins permit to start local bank

(Reuters) - Algeria's central bank has decided to permit HSBC, Europe's largest bank, to set up an Algerian bank, state-owned newspaper El Moudjahid reported on Sunday.

A central bank statement reprinted by the newspaper said: "The bank's money and credit committee, after deliberations, has decided to permit the establishment of the HSBC Algerie bank."


Read more at Reuters Africa

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