47 billion dinars in Islamic banking financing and deposits at the National Bank of Algeria – Al-Hiwar Algeria

The value of the National Bank of Algeria’s financing, in the form of Islamic banking, exceeded 12 billion dinars, while the value of deposits amounted to 35 billion dinars, until the end of 2023, according to what was reported today, Wednesday in Algiers, by the head of the Islamic banking department at the bank, Amina Othmania.
The official explained in a press statement, on the sidelines of the opening ceremony of a new agency dedicated exclusively to Islamic banking on Hasiba Ben Bouali Street in Algiers, that these amounts have been recorded through the bank’s various Islamic banking products, since their launch on August 4, 2020.

Through Islamic banking, the public bank proposes 15 financial products directed to individuals, professionals, and economic dealers, such as financing products related to real estate Murabaha, equipment Murabaha, automobile Murabaha, investment Murabaha, and exploitation Murabaha, in addition to rental services, savings products, and Al-Sabeel loan to finance Hajj and Umrah.

In this context, Mrs. Othmania explained that the upward trend witnessed by the demand for this type of banking encouraged the bank to invest in opening agencies dedicated exclusively to this activity, highlighting that, in addition to opening a new agency dedicated exclusively to Islamic banking on Hasiba Ben Bouali Street in Algiers, it intends to The bank expanded its network by opening 6 new agencies during the current year.

The new agency was opened in the presence of executives from the bank, and it is the third agency designated for this formula in Algiers, bringing the total number of the bank’s agencies designated for Islamic banking to 12 agencies, in addition to 105 offices designated for this activity at the level of other agencies (classical agencies).

For his part, the Acting Director General of the Bank, Dean Ben Abdi, explained that the Bank, within the framework of its strategic plan 2024/2028, has written a program to expand its network of agencies, as it intends to open approximately 35 classic agencies across the various states of the country, in addition to increasing its banking offers and products. .

The bank also seeks, according to him, to generalize digitization to include all its interests, with the aim of attracting the largest number of customers and accelerating the achievement of financial inclusion, pointing also to the project of opening a bank branch specially for Islamic banking, which, according to him, awaits “the final decision of the bank’s general assembly before submitting it to the public authorities.” To decide it.”