The 23-year-old is having a real break-out season at Monaco, scoring six goals and providing ten assists in his 39 games across all competitions.
According to French outlet L'Equipe, the club have a gentleman’s agreement that would allow Akliouche to leave for the right price, which is understood to be around €80 million.
Akliouche is reportedly keen to take the next step and join a club that will be competing for major silverware next season.
City are showing the strongest interest as they prepare to overhaul their attacking line-up with Kevin de Bruyne set to leave at the end of the season, along with several other aging stars.
Man United also retain an interest while PSG want to continue their recent transfer policy of signing young, homegrown stars.