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the Banque de l'Algérie, from 1949 to 1958 Banque de l'Algérie et de la Tunisie, was a French bank created in 1851, that operated as the central bank for

French Algeria French Algeria (french: Alger to 1839, then afterwards; unofficially , ar, الجزائر المستعمرة), also known as Colonial Algeria, was the period of French colonisation of Algeria. French rule in the region began in 1830 with the ...

and, from 1904, also for the

French protectorate of Tunisia The French protectorate of Tunisia (french: Protectorat français de Tunisie; ar, الحماية الفرنسية في تونس '), commonly referred to as simply French Tunisia, was established in 1881, during the French colonial Empire era, ...

until

Tunisian independence Tunisian independence was a process that occurred from 1952 to 1956 between France and a separatist movement, led by Habib Bourguiba. He became the first Prime Minister of the Kingdom of Tunisia after negotiations with France successfully had br ...

. Following

Algerian independence An independence referendum was held in French Algeria on 1 July 1962. It followed French approval of the Évian Accords in an April referendum. Voters were asked whether Algeria should become an independent state, co-operating with France; 99.72 ...

in 1962, it was succeeded by the new state’s

Bank of Algeria The Bank of Algeria ( ar, بنك الجزائر , french: Banque d'Algérie) is the central bank of Algeria. The bank is located in Algiers and its current governor is Rosthom Fadli. It was established following Algerian independence in 1962 t ...

(french: Banque d'Algérie), and its French operations were wound up in 1963.

History

The Banque de l'Algérie was created by legislation of under the

French Second Republic The French Second Republic (french: Deuxième République Française or ), officially the French Republic (), was the republican government of France that existed between 1848 and 1852. It was established in February 1848, with the February Revo ...

. From the start, it was granted the exclusive right to issue currency (french: privilège d'émission) in

, initially for a term of twenty years. The bank's head office was in

Algiers Algiers ( ; ar, الجزائر, al-Jazāʾir; ber, Dzayer, script=Latn; french: Alger, ) is the capital and largest city of Algeria. The city's population at the 2008 Census was 2,988,145Census 14 April 2008: Office National des Statistiques ...

, initially on , then from 1868 in a purpose-built mansion on (later , now ) where the

still keeps offices. By legislation of , the bank's head office was relocated from Algiers to Paris, in a property at 217, boulevard Saint-Germain, where it remained until its termination on . This building is now the . The Banque de l’Algérie's issuance monopoly was extended to the

in 1904, following two decades of debates during which the

Banque de Tunisie The Banque de Tunisie ( ar, البنك التونسي, en, Bank of Tunisia) is a bank in Tunisia, the first established in the country in modern times. It has been listed in the Bourse de Tunis since 1990.Oxford Business Group, ''Tunisia, 2009 ( ...

had unsuccessfully tried to secure the issuance license for itself. Following the establishment of the

French protectorate in Morocco The French protectorate in Morocco (french: Protectorat français au Maroc; ar, الحماية الفرنسية في المغرب), also known as French Morocco, was the period of French colonial rule in Morocco between 1912 to 1956. The prote ...

and in the context of

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, the Banque de l'Algérie's notes became

legal tender Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in pa ...

in French Morocco, together with Metropolitan French and traditional Moroccan currencies. Calls were made for monetary unification of

French North Africa French North Africa (french: Afrique du Nord française, sometimes abbreviated to ANF) is the term often applied to the territories controlled by France in the North African Maghreb during the colonial era, namely Algeria, Morocco and Tunisia. In ...

under the aegis of the Banque de l'Algérie, but the costly monetary competition eventually led to an agreement with the

State Bank of Morocco The State Bank of Morocco (french: Banque d'État du Maroc) was a quasi-central bank established in 1907 following the Algeciras Conference, to stabilize the Moroccan currency and serve as a vehicle for European and especially French influence ...

that left the latter in charge of most monetary policy operations in the protectorate. Following

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

, the Banque de l'Algérie was nationalized by a law of . In January 1949, it was renamed the Banque de l'Algérie et de la Tunisie, but that change was reversed on following

and the establishment of the

Central Bank of Tunisia The Central Bank of Tunisia ( ar, البنك المركزي التونسي, french: link=, Banque Centrale de Tunisie, BCT) is the central bank of Tunisia. The bank is in Tunis and its current governor is Marouane Abassi, who replaced Chedly Aya ...

Leadership

The chief executive of the Banque de l'Algérie held the title of , , or , and from 1949, . * Édouard Lichtlin (1851-1859) * Auguste Adolphe Villiers (1859-1875) * Julien Ernest Chevallier (1875-1886) * Félix Nelson Chiérico (1886-1897) * Amédée Rihouet (1897-1898) * Marc Lafon (1898-1906) * Émile Moreau (1906-1926) * Paul Ernest-Picard (1926-1934) *

Louis Escallier Louis Escallier (11 January1883 11 July1965) was a French businessman. He was a financial inspector and then the governor of the Banque de l'Algérie from 1934 to 1946, chairman of the Crédit Lyonnais from 1946 to 1949, and then the third chairm ...

(1934-1946) * (1946-1949) * Marcel Flouret (1949-1952) * Jean Watteau (1952-1962) * Gilles Warnier de Wailly (1962-1963)

Notes

French Algeria Banks of Algeria Economic history of Algeria Currencies of Algeria Defunct companies of Algeria Defunct banks of France Defunct banks of Africa Former central banks {{bank-stub

History

Leadership

See also

Notes