nder the Radar is a weekly special series bringing you compelling, under–the–radar stories from around the world, one region at a time. This week in MENA, the Bank of Algeria seeks to combat corruption by transitioning Algeria to a cashless society. Other noteworthy under–the–radar stories from the region include a robbery of priceless artifacts from Syria’s National Museum, the death toll of migrants crossing the Mediterranean Sea hitting a grim milestone, and the practical way Iranian women are protesting.
On 18 October 2025, the governor of the Bank of Algeria announced an ambitious plan to transition Algeria to a cashless society by 2028. The Algerian government has been vocal about its ambitions to modernize financial transactions, prioritizing efficiency and—especially—transparency. The 2023 Monetary and Banking Law cemented the government’s intention to modernize monetary transactions in Algeria, introducing payment service providers, a central bank digital currency, digital banks, and investment banks. Algeria’s government established the National Payments Committee in 2024 to modernize payment methods, strengthen bank transaction security, and promote financial inclusivity. These measures have already proven effective, with Algeria reaching a 71% increase in digital financial transactions in the first quarter of 2024.
In November 2024, Algeria passed the Finance Act 2025, which includes legislation banning cash payments for certain financial transactions, such as real estate transactions, the purchase of luxury goods, and insurance premium payments. By ensuring these transactions are conducted digitally, Algeria is furthering trust in the banking system and increasing transparency to prevent money laundering and fraud.
The transition to a cashless society is one of many steps that the Algerian government is taking to curb rampant corruption, as Algeria is currently ranked 107 out of 180 countries in Transparency International’s Corruption Perceptions Index. A September 2025 agreement between Algeria’s national police and the Financial Intelligence Processing Unit will increase efforts against money laundering, terrorism financing, and the spread of weapons. Algeria also aims to increase transparency in key public sectors. In October 2025, several top officials in Algeria’s water sector were dismissed after reports of mismanagement and a lack of monitoring and accountability mechanisms. The government’s efforts to improve digitization will also increase accountability for these officials.
Although Algeria has outlined its 2028 cashless goal, it must develop the infrastructure to support these ambitions. A 2023 report found that only 3% of businesses were equipped to process digital payments, mainly due to high setup costs and still–lacking infrastructure. Even though notable progress has been made since 2023, many Algerian citizens still lack confidence in digital financial transactions, worried about data breaches, identity theft, and fraud. In response, the Algerian government is investing in cybersecurity and is creating public awareness campaigns.
Here are some other under–the–radar stories from MENA:
- Six marble statues from Roman times were stolen from Syria’s National Museum.
- More than 1,000 migrants trying to cross the Mediterranean Sea have died this year, after a capsized boat on 12 November killed 42 more migrants.
Iranian women are riding motorcycles as a practical means of defiance against sexist laws and regulations.
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Algeria to become cashless society by 2028
Image by OMAR-MALO via Flickr. CC BY-NC-ND 2.0
November 21, 2025
Diplomatic Courier’s Stephanie Gull brings you weekly under–the–radar stories from around the world. This week in MENA: Algeria eyes a cashless future to modernize finances and combat corruption.
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nder the Radar is a weekly special series bringing you compelling, under–the–radar stories from around the world, one region at a time. This week in MENA, the Bank of Algeria seeks to combat corruption by transitioning Algeria to a cashless society. Other noteworthy under–the–radar stories from the region include a robbery of priceless artifacts from Syria’s National Museum, the death toll of migrants crossing the Mediterranean Sea hitting a grim milestone, and the practical way Iranian women are protesting.
On 18 October 2025, the governor of the Bank of Algeria announced an ambitious plan to transition Algeria to a cashless society by 2028. The Algerian government has been vocal about its ambitions to modernize financial transactions, prioritizing efficiency and—especially—transparency. The 2023 Monetary and Banking Law cemented the government’s intention to modernize monetary transactions in Algeria, introducing payment service providers, a central bank digital currency, digital banks, and investment banks. Algeria’s government established the National Payments Committee in 2024 to modernize payment methods, strengthen bank transaction security, and promote financial inclusivity. These measures have already proven effective, with Algeria reaching a 71% increase in digital financial transactions in the first quarter of 2024.
In November 2024, Algeria passed the Finance Act 2025, which includes legislation banning cash payments for certain financial transactions, such as real estate transactions, the purchase of luxury goods, and insurance premium payments. By ensuring these transactions are conducted digitally, Algeria is furthering trust in the banking system and increasing transparency to prevent money laundering and fraud.
The transition to a cashless society is one of many steps that the Algerian government is taking to curb rampant corruption, as Algeria is currently ranked 107 out of 180 countries in Transparency International’s Corruption Perceptions Index. A September 2025 agreement between Algeria’s national police and the Financial Intelligence Processing Unit will increase efforts against money laundering, terrorism financing, and the spread of weapons. Algeria also aims to increase transparency in key public sectors. In October 2025, several top officials in Algeria’s water sector were dismissed after reports of mismanagement and a lack of monitoring and accountability mechanisms. The government’s efforts to improve digitization will also increase accountability for these officials.
Although Algeria has outlined its 2028 cashless goal, it must develop the infrastructure to support these ambitions. A 2023 report found that only 3% of businesses were equipped to process digital payments, mainly due to high setup costs and still–lacking infrastructure. Even though notable progress has been made since 2023, many Algerian citizens still lack confidence in digital financial transactions, worried about data breaches, identity theft, and fraud. In response, the Algerian government is investing in cybersecurity and is creating public awareness campaigns.
Here are some other under–the–radar stories from MENA:
- Six marble statues from Roman times were stolen from Syria’s National Museum.
- More than 1,000 migrants trying to cross the Mediterranean Sea have died this year, after a capsized boat on 12 November killed 42 more migrants.
Iranian women are riding motorcycles as a practical means of defiance against sexist laws and regulations.
