The National Association of Banks and Financial Institutions issued an instruction prohibiting the import of some steel products.

The association said it received a telegram from the Secretary General of the Ministry of Trade and Export Promotion asking banks not to approve bank domiciliation requests related to the import of some steel products intended for resale or manufacturing.

The telegram indicated that the import of these products that were identified before the date of signing this correspondence are justified by a bank domiciliation or a shipping document and are not affected by the ban decision.

The same body called on all concerned parties to take all necessary measures to implement this decision.

In a second letter dated October 7, 2024, the National Association of Banks and Financial Institutions explained that the decision only concerns wire rods made of steel alloys under customs tariff item No. 7227 90 00 00.

Returning to steel products, it is noteworthy that Algeria has recently begun exporting steel products that it had been importing for 3 to 4 years.

Minister of Industry Ali Aoun stressed the necessity of finally exiting the dangerous phase of returning to imports.