annual report 2005 - Arab Banking Corporation, ALGERIA

THE BANK’S ACHIEVEMENTS IN 2005
2005 was the year of ongoing achievements of the commitments undertaken since 2003 in what
concerns the clean up process regarding all support activities of the bank and also enhancing the
system capabilities and upgrade of its performances.
On the banking market level, it is worth mentioning that during this year, the Central Bank
implemented ARTS & ATCI: the new payments systems which will largely facilitate the banking
transactions among all banks & customers.
ABC Algeria growth was maintained and market share was increased despite the competitive
environment.
The internal audit went with its ongoing program in the various bank’s activities, aiming to
improve and strengthen the procedures, bringing the necessary corrective measures and adapt the
means for a better performance.
The year 2005 also allowed the finalization of the projects undertaken in 2004 and the launching of
new technological and operational projects.
The Organization Methods and Procedures (OMP) department which was created in 2005, had a
busy agenda of projects during this year for procedures listing inventory, enhancements and update.
Retail Banking was established & new staff were recruited for the division & for the new branches
expected to be inaugurated in 2006. Car loan product was finalised and ready to be launched
beginning 2006 with the opening of the retail branches.
One major achievement and compliance advantage that the bank had on its peers was in terms of
money laundering compliance and procedures implementation and adherence to the Group ML
policy. In fact, intensive training for all staff was carried and enhancements of the Money
Laundering policies and procedures took place, putting the bank in a competitive position in the
market as regarding money laundering matters.