
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 ( until 1839, then afterwards; unofficially ; ), also known as Colonial Algeria, was the period of History of Algeria, Algerian history when the country was a colony and later an integral part of France. French rule lasted until ...
and, from 1904, also for the
French protectorate of Tunisia
The French protectorate of Tunisia (; '), officially the Regency of Tunis () and commonly referred to as simply French Tunisia, was established in 1881, during the French colonial empire era, and lasted until Tunisian independence in 1956.
T ...
until
Tunisian independence
Tunisian independence was a process that occurred from 1952 to 1956 between France and an independence movement, led by Habib Bourguiba. He became the first Prime Minister of the Kingdom of Tunisia after negotiations with France successfully bro ...
. 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; 99.7 ...
in 1962, it was succeeded by the new state's
Bank of Algeria (), 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 ( or ), officially the French Republic (), was the second republican government of France. It existed from 1848 until its dissolution in 1852.
Following the final defeat of Napoleon, Napoleon Bonaparte at the Battle ...
. From the start, it was granted the exclusive right to issue currency () in
French Algeria
French Algeria ( until 1839, then afterwards; unofficially ; ), also known as Colonial Algeria, was the period of History of Algeria, Algerian history when the country was a colony and later an integral part of France. French rule lasted until ...
, initially for a term of twenty years. The bank's head office was in
Algiers
Algiers is the capital city of Algeria as well as the capital of the Algiers Province; it extends over many Communes of Algeria, communes without having its own separate governing body. With 2,988,145 residents in 2008Census 14 April 2008: Offi ...
, initially on , then from 1868 in a purpose-built mansion on (later , now ) where the
Bank of Algeria 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
French protectorate of Tunisia
The French protectorate of Tunisia (; '), officially the Regency of Tunis () and commonly referred to as simply French Tunisia, was established in 1881, during the French colonial empire era, and lasted until Tunisian independence in 1956.
T ...
in 1904, following two decades of debates during which the
Banque de Tunisie had unsuccessfully tried to secure the issuance license for itself. Following the establishment of the
French protectorate in Morocco
The French protectorate in Morocco, also known as French Morocco, was the period of French colonial rule in Morocco that lasted from 1912 to 1956. The protectorate was officially established 30 March 1912, when List of rulers of Morocco, Sultan ...
and in the context of
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting to ...
, the Banque de l'Algérie's notes became
legal tender
Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything ...
in French Morocco, together with Metropolitan French and traditional Moroccan currencies. Calls were made for monetary unification of
French North Africa
French North Africa (, sometimes abbreviated to ANF) is a term often applied to the three territories that were controlled by France in the North African Maghreb during the colonial era, namely Algeria, Morocco and Tunisia. In contrast to French ...
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 () 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 in the Sultanate of Morocco. Fo ...
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 (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
, 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
Tunisian independence
Tunisian independence was a process that occurred from 1952 to 1956 between France and an independence movement, led by Habib Bourguiba. He became the first Prime Minister of the Kingdom of Tunisia after negotiations with France successfully bro ...
and the establishment of the
Central Bank of Tunisia
The Central Bank of Tunisia (, , BCT) is the central bank of Tunisia. The bank is in Tunis and its current governor is Marouane Abassi, who replaced Chedly Ayari on 16 February 2018.
History
Tunisia gained independence in 1956. The Central Ban ...
.
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 chair ...
(1934-1946)
* Jacques Brunet Jacques Brunet may refer to:
* Jacques Charles Brunet
Jacques Charles Brunet (2 November 1780 – 14 November 1867) was a French bibliographer.
Biography
He was born in Paris, the son of a bookseller. He began his bibliographical career by th ...
(1946-1949)
* Marcel Flouret
Marcel Flouret, (March 29, 1892 – November 29, 1971) was a French engineer, soldier, civil servant, member of the French Resistance, and fourth Chair of Électricité de France (EDF) from 1952 to 1962.
Career
Flouret graduated from the École P ...
(1949-1952)
* Jean Watteau (1952-1962)
* Gilles Warnier de Wailly (1962-1963)
See also
* Algerian franc
The franc was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.
History
The franc replaced the budju when France occupied the country. It was equivalent to the French franc and was revalued in 1960 at a rate of ...
* Tunisian franc
The franc (French language, French, ) was the currency of Tunisia between 1891 and 1958. It was divided into 100 centimes (صنتيم) and was equivalent to the French franc.
History
The franc replaced the Tunisian rial, rial in 1891 at the rate ...
* Bank of Java
The Bank of Java (, abbreviated as DJB) was a note-issuing bank in the Dutch East Indies, founded in 1828, and nationalized in 1951 by the government of Indonesia to become the newly independent country’s central bank, later renamed Bank Indone ...
* State Bank of Morocco
The State Bank of Morocco () 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 in the Sultanate of Morocco. Fo ...
* Compagnie Algérienne
The ''Compagnie Algérienne'' (), from 1942 to 1948 ''Compagnie Algérienne de Crédit et de Banque'' (, "Algerian Credit and Banking Company"), was a significant French bank with operations in Algeria, Morocco, Tunisia and Lebanon as well as ma ...
Notes
Economic history of French Algeria
Banks based in Paris
Companies based in Algiers
Banks of Algeria
Currencies of Algeria
Defunct companies of Algeria
Defunct banks of France
Defunct banks of Africa
French Algeria
French Algeria ( until 1839, then afterwards; unofficially ; ), also known as Colonial Algeria, was the period of History of Algeria, Algerian history when the country was a colony and later an integral part of France. French rule lasted until ...
Banks established in 1851
Economic history of Paris
French banks of issue
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