CHAPTER FOUR: ECONOMIC GOVERNANCE AND MANAGEMENT 417. The law on money laundering and terrorism financing, and the provisions of the Ordinance of 26 August 2003 on money and credit came to strengthen the legal and regulatory framework of the banking system. Not all core principles of Basel have been fully respected by Algerian authorities. The main obstacle to good banking supervision and control are the banks‟ delays in submitting information, obvious incapacities and failure to share responsibilities. (See also Chapter Five on corporate governance in this report.) 418. The African Union Convention on Preventing and Combating Corruption and the UN Convention Against Corruption. Algeria has strengthened its external control of financial transactions and movements and of international capital and has developed regulations requesting all financial institutions to introduce internal control systems for communicating their information on transactions. For 2006, Transparency International attributed to Algeria a score of 3.1 over 10 for combating corruption. Stakeholders believe that Algeria‟s commitment to ratifying the conventions against corruption is not being fully applied as per the Act of 20 February 2006. 419. International Convention for the Protection of Copyright, Intellectual and Industrial Property Rights. The APRM stated that Algeria was a signatory to international conventions for the protection of copyright and intellectual and industrial property rights. All legislation on property has been aligned with international standards. Literary and artistic property rights are regulated by Ordinance 03-05 of 19 July 2003 on copyright and related rights. (These issues have been treated in more depth in Chapter Five on corporate governance in this report.) iii. Recommendations 420. The APR Panel would like to recommend the following corrective measures to the competent Algerian authorities: 1. Finalise a detailed assessment, principle by principle or section by section, for each standard and code listed in the APRM Questionnaire. Wherever standards and codes have not been met, a programme of action should be prepared specifying measures to be put in place to fill the gaps observed; and to ratify the required standards and codes as soon as possible. 2. On transparency in general: Take decisive action as regards implementation of the FSAP mission. Continue developing and modernising the statistics system for the dissemination of prudential data on the finance sector, and for speedy dissemination to the parliament and to the public. 3. Accelerate the introduction of structural reforms for a market economy by adopting healthy macro-economic policies and increasing diversification of the economy. 137