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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 ( 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

, 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

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

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)

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

Banks established in 1851 Economic history of Paris French banks of issue {{bank-stub

History

Leadership

See also

Notes