Supervised by
the Bank of Algeria
Centeem is undergoing Payment Service Provider licensing under Instruction 06-2025. Your funds are ring-fenced, your data protected, your transactions framed by the Algerian AML framework.
The 4 pillars
Compliance by construction
PSP license in progress
Centeem is applying for the Payment Service Provider license (combined EME + EP category) with the Bank of Algeria, under Instruction 06-2025. Minimum regulatory capital: 160M DZD.
Bank ring-fencing
100% of client funds are deposited in a trust account at a partner Algerian bank, in accordance with Article 47 of Instruction 06-2025. Centeem CANNOT use these funds for its own operations.
AML / Anti-money laundering
Compliance with CTR obligations (Currency Transaction Report — any transaction ≥ 1M DZD reported automatically) and STR (Suspicious Transaction Report — monthly reporting to the CTRF). Strict KYC for every user.
Data protection
Personal data encrypted at rest and in transit. Automatic PII scrubbing on logs and errors (Sentry). Retention of 5-10 years for AML data (BA obligation), 7 days for KYC media after expiry.
Diagram
Where are your funds, exactly?
When you load 10,000 DZD onto Centeem, here is exactly where that money goes.
You load
10,000 DZD via CCP / BaridiMob / Agent
Centeem receives
Immediate transfer to the trust account
Partner bank
Your 10,000 DZD stay in this separate account
You spend
Centeem debits from this account only when you authorize it
Direct consequence: your funds NEVER legally belong to Centeem. If Centeem were to disappear tomorrow (unlikely but hypothetically), the court-appointed administrator reimburses every user in full from the partner bank's trust account. No risk of loss.
Regulatory obligations
What Centeem must do, by law
Article 47 — Full ring-fencing
All the funds you load onto Centeem are immediately transferred to a dedicated trust account at our partner bank. This account is: (1) separated from Centeem's assets, (2) guaranteed by the bank, (3) auditable at any time by the Bank of Algeria.
Article 88-90 — CTR thresholds
Any single transaction ≥ 1,000,000 DZD triggers a Currency Transaction Report sent automatically to the Financial Intelligence Processing Unit (CTRF). Any monthly cumulative total ≥ 10,000,000 DZD for the same client also triggers a report.
Article 91 — Suspicious pattern detection
Our AI fraud engine detects atypical patterns (structuring, smurfing, fan-in pattern, excessive velocity) and automatically blocks the transactions concerned pending compliance officer review.
Article 102 — Mandatory strict KYC
Documentary identity verification (ID card/passport) + liveness selfie + duplicate detection + international sanctions screening. No account is opened without validated KYC. Annual or biennial renewal depending on the KYC tier.
Minimum capital 160M DZD
The combined EME + EP PSP status requires a minimum regulatory share capital of 160 million DZD, fully paid up. This capital serves as a safety buffer in the event of an operational incident — distinct from the ring-fencing of client funds.
Annual external audit
Like any financial institution, Centeem undergoes an annual accounting and compliance audit by an independent external firm. The report is sent to the Bank of Algeria. Any irregularity would open a disciplinary procedure.
Questions of trust
We explain it plainly
What happens to my funds if Centeem goes bankrupt?+
Your funds are 100% recoverable. They are ring-fenced in a separate bank account that has NEVER legally belonged to Centeem. In the event of failure, the administrator appointed by the BA would organize the full reimbursement of user balances from this account. No risk of losing your funds.
Can Centeem block my funds for no reason?+
No. An account can only be blocked on 3 specific grounds: (1) AML report (CTR/STR with a compliance procedure), (2) suspected fraud detected by our engine or by your own report, (3) a formal court request. Every block is notified to the user with the reason + means of appeal. Any dispute can be brought before the Bank of Algeria's Payment Services Ombudsman.
How can I know whether Centeem is really licensed?+
The PSP license is under review. Once granted, it will be published on the official Bank of Algeria website (public PSP register). We will immediately publish the license number on this page and in the footer. In the meantime, Centeem operates only in private beta mode (invited testers).
What data exactly do you collect about me?+
The strict minimum for regulatory compliance: identity (ID card/passport scan + selfie), contact details (phone + email), transaction history (5-10 year obligation under AML), technical metadata (device ID, IP, approximate geolocation). No personal data is sold to third parties. You can export or request deletion at any time (GDPR-equivalent).
Who oversees Centeem day to day?+
The Bank of Algeria (prudential + AML regulator), the CTRF (anti-money-laundering unit), an annual external audit firm, and our own internal Compliance Committee (independent member). Plus an external Ombudsman in case of a client dispute. The same scheme as any regulated European or North American fintech.
What happens in case of a dispute with Centeem?+
3 levels of recourse: (1) Centeem Support (reply within 24 business hours), (2) internal Complaints Service with a compliance officer (reply within 15 days), (3) the Bank of Algeria's Payment Services Ombudsman if unresolved. Legal action remains possible but after exhausting amicable channels.
A specific doubt about our compliance?
Contact our compliance officerOur commitment
Compliance commitments
Open a Centeem account
Coming soon on iOS and Android. Identity verification compliant with the Bank of Algeria's Instruction 06-2025.