Banque de l'Algérie should not be confused with Bank of Algeria.
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 and, from 1904, also for the French protectorate of Tunisia until Tunisian independence.[1] Following Algerian independence in 1962, it was succeeded by the new state's Bank of Algeria (French: Banque d'Algérie), and its French operations were wound up in 1963.[2]
The Banque de l'Algérie was created by legislation of under the French Second Republic. From the start, it was granted the exclusive right to issue currency (French: privilège d'émission) in French Algeria, initially for a term of twenty years. The bank's head office was in Algiers, initially on French: rue de la Marine, then from 1868 in a purpose-built mansion on French: boulevard de l’Impératrice (later French: boulevard Carnot, now French: boulevard Ernesto Che Guevara) 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 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 and in the context of World War I, the Banque de l'Algérie's notes became legal tender in French Morocco, together with Metropolitan French and traditional Moroccan currencies. Calls were made for monetary unification of French North Africa 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 that left the latter in charge of most monetary policy operations in the protectorate.
Following World War II, 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 and the establishment of the Central Bank of Tunisia.
The chief executive of the Banque de l'Algérie held the title of French: directeur-président, French: directeur, or French: directeur général-président, and from 1949, French: gouverneur.[2]