Islamic finance
Islamic finance aims to develop banking services and financial products compatible with Sharia law.
Recently integrated into Algeria, this finance has enjoyed great success with citizens. It helps promote financial inclusion and absorb cash hoarded or circulating on the parallel market.
In Islamic finance, there are several methods of financing which result in contracts respecting the Islamic precepts of Sharia. These contracts are divided into two main categories: participatory contracts and commercial contracts.
This stamp includes the main products marketed by Algerian Banks within the framework of Islamic finance, these are: in particular:
Murabaha is a popular sales formula, in which the Bank discloses to the customer the acquisition cost price increased by a known and agreed profit margin.
SUKUK, its importance can be underlined within the framework of the policy of opening the Algerian money market. These sovereign securities will help revitalize the Algerian stock market and diversify the channels to capture informal money in the official circuit of the national economy.
TAKAFUL insurance is a contractual regime by which a group of people called “members” undertake to help each other in the event of the risk occurring or at the term set in the TAKAFUL insurance contract, through the payment of a sum as a donation called “contribution”.
Recently integrated into Algeria, this finance has enjoyed great success with citizens. It helps promote financial inclusion and absorb cash hoarded or circulating on the parallel market.
In Islamic finance, there are several methods of financing which result in contracts respecting the Islamic precepts of Sharia. These contracts are divided into two main categories: participatory contracts and commercial contracts.
This stamp includes the main products marketed by Algerian Banks within the framework of Islamic finance, these are: in particular:
Murabaha is a popular sales formula, in which the Bank discloses to the customer the acquisition cost price increased by a known and agreed profit margin.
SUKUK, its importance can be underlined within the framework of the policy of opening the Algerian money market. These sovereign securities will help revitalize the Algerian stock market and diversify the channels to capture informal money in the official circuit of the national economy.
TAKAFUL insurance is a contractual regime by which a group of people called “members” undertake to help each other in the event of the risk occurring or at the term set in the TAKAFUL insurance contract, through the payment of a sum as a donation called “contribution”.