Tuesday, 20 August 2019
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Group subsidiaries

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Creation

The Algerian Saudi Investment Company (ASICOM) was created in 2008 by a signed agreement between the Kingdom of Saudi Arabia and Algeria. Its head office is in Algiers, Algeria. The declared capital is eight billion Algerian dinars (8 000 000 000 DZD - that is 75 000 000 USD) held equally and paid fully.

Objective

ASICOM intervenes in the promotion and the financing of projects in all kinds of sectors. Its activities consist of :

  • taking part in active or newly set up companies;
  • financing combined current accounts.

Management

The company is managed by its Board of Directors, composed by six members, three Saudi nationalities and three Algerian ones. The Board is chaired by a Saudi member. The General Management is assured by an Algerian member. The Board of Directors meets at least quarterly and shall act on all investment operations.