Private Capital Urged to Accelerate Algeria’s Expanding Islamic Finance Industry
✍️ BY: Dr. Hana Saada
Algiers – November 2025 – At the 2025 edition of the Tasshili Exhibition, Bank ABC placed the spotlight firmly on the expanding horizon of Islamic finance in Algeria, calling on private capital to assume a decisive role in consolidating a sector that has demonstrated remarkable growth over the past five years. Under the theme “Islamic Finance in Service of the National Economy,” the conference underscored both the structural foundations of Islamic finance and its emerging function as a strategic economic lever.
Professor Mohammed Boudjelal, economist and member of the High Islamic Council (HCI), stated that Islamic finance has “crossed significant thresholds” since the implementation of Executive Decree 20-02 of the Bank of Algeria on March 15, 2020. He revealed that 12 out of the 21 banks operating in the country now offer Islamic financial products, including seven public institutions. Across the national territory, 861 agencies—representing 51 percent of the entire banking network—deliver Islamic financial services, with 103 branches exclusively dedicated to this mode of financing.
A key achievement highlighted during the conference is the impressive fundraising capacity of Islamic finance. With 900 billion dinars mobilized and an annual growth rate of 21.3 percent, the sector has emerged as one of the most dynamic components of Algeria’s financial landscape. Boudjelal stressed that if private capital fully commits to the process, the industry will inevitably experience a substantial acceleration. “The political will is there,” he insisted, recalling that the President of the Republic has explicitly encouraged private investors to enter the banking sector. Yet, he noted, Algeria still lacks a fully private, 100-percent Algerian Islamic bank, aside from the mixed-capital institutions El Baraka and Salam Bank.
Beyond private investment, Boudjelal issued a call to financial institutions to actively adopt Islamic finance. Except for the Investment Credit Guarantee Fund, no financial institution has opened an Islamic finance window—despite growing public demand. He reaffirmed that with the issuance of sovereign sukuk, the future of the industry is already charting a promising trajectory. According to him, Islamic finance is no longer optional; it constitutes “a shield against any potential financial crisis.” He also advocated for the creation of a public Islamic bank and a professional coordination council, noting that a prudential regulatory framework for Islamic finance is currently in preparation.
Bank ABC, aligning itself with this national momentum, leveraged the Tasshili Exhibition to unveil its latest innovation: the Islamic product “Aménagement-Ijara.” Designed for both individuals and enterprises, this financing formula enables property development without the need for a mortgage. According to Zhira Makhlouf, division head in the retail financing department, the product offers funding of up to 4 million dinars with repayment periods extending to ten years. In parallel, the bank launched a dedicated Islamic finance lottery, further reinforcing its commitment to expanding the sector’s reach.
The 2025 edition of Tasshili, which runs until the 25th of the month, has thus become a platform not only for showcasing new products but also for redefining the strategic orientation of the national financial system.
Translated from:
https://www.horizons.dz/?p=392483
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