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November 4, 2025 | 2 days ago

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Islamic finance: Over 900 billion DZD raised

On Monday in Algiers, the HCI announced, "over 900 billion dinars have been raised since the launch of Islamic finance in Algeria.

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Islamic finance in Algeria has been growing rapidly since its launch five years ago, with more than 900 billion dinars mobilized and a target of 1.5 billion by 2030. It plays a key role in financial inclusion and enjoys the support of public authorities. During an information day organized by the High Islamic Council (HCI), its President, Mebrouk Zid El Khir, praised efforts to develop Sharia-compliant financial services. Professor Mohammed Boudjelal discussed strengthening the ecosystem through the issuance of sovereign sukuk, the creation of a public Islamic bank, and the expansion of state aid. He also stressed the importance of the future law on Zakat. Dr Saïd Bouizri emphasized the need to complete the legal framework and train industry players. Expert Abderrahmane Benelhafsi presented encouraging figures: 12 banks practice Islamic finance, 859 branches are involved, and 900,000 accounts have been opened. The volume of financing has reached 600 billion dinars, mainly through Salam, Murabaha, and Ijara formulas. Islamic finance also contributes to integrating 7% of the non-banking fiduciary mass, with promising growth prospects.

November 4, 2025 | algeria-logo

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