Algerian Authorities Summon Former Police Chief

Rabat – Algerian police recently summoned former police chief Abdelghani Hamel. Hamel was sacked in June 2018 for alleged involvement in a cocaine trafficking scandal.AFP reported that the ex-police officer will appear with one of his sons before the investigating judge.The officer and his son are accused of  involvement in “illegal activities,” including embezzlement of land and “abuse of funcion.” Read Also: Bouteflika’s Resignation Is Unlikely to Repair Morocco-Algeria TiesBefore the resignation of Bouteflika earlier in April, the Algerian army summoned several military officials for investigations over allegations of power abuse. Despite Bouteflika’s resignation, protesters are still in the streets, demanding a total rupture from the Bouteflika establishment. Friday marked the 10th week of protests that have swept Algeria.Interim President Abdelkader Bensalah announced that the election to appoint a new President will take place on July 4.But the interim government’s perceived determination to lead a successful transition has not calmed the anti-establishment fervor.  Thousands of protesters and several political activists are calling to boycott the upcoming election.“How can mafia and fraudsters hold an honest election?” asked a protester quoted by AFP on Friday.Algerian army chief of staff General Gaid Salah has repeatedly called on protesters to remain patient before the election.Salah also warned protesters against “unrealistic slogans.” read more

NSB Chairman resigns over deal

This was through four separate transactions involving two TFC directors and NSB Chairman Pradeep Kariyawasam, when the share market price was hovering around mere Rs 30-31 a share.The Securities and Exchange Commission (SEC) is probing the deal. National Savings Bank (NSB) Chairman Pradeep Kariyawasam has tendered his resignation, in a letter sent to President Mahinda Rajapaksa and the Finance Ministry. The deal involves a 13 per cent stake of The Finance Company (TFC) being bought by the NSB on April 27 at around Rs. 50 a share. His resignation follows a controversial share deal between the National Savings Bank (NSB) and The Finance Company (TFC). read more