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.
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.
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.