Islamic finance: Opening of 15,000 accounts, deposit of 10 billion Da until May 2021

ALGIERS - The number of bank accounts opened since the launch of Islamic finance products amounted to 15,000 ones through which a total amount of 10 billion Da was deposited until last May, the Prime Minister, Minister of Finance, Aïmene Benabderrahmane said, Thursday in Algiers.

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Islamic finance: Opening of 15,000 accounts, deposit of 10 billion Da until May 2021

ALGIERS – The number of bank accounts opened since the launch of Islamic finance products amounted to 15,000 ones through which a total amount of 10 billion Da was deposited until last May, the Prime Minister, Minister of Finance, Aïmene Benabderrahmane said, Thursday in Algiers.

Responding to questions from members of the People’s National Assembly (APN) on the Government’s Action Plan, the Prime Minister said that Islamic finance was one of the financing methods on which the Government should focus on funding.

Stressing, in this sense, that the financing of the economy and the creation of infrastructure and new public equipment required the use of new resources outside banks, Mr. Benabderrahmane said that Islamic finance was “an important mode “for the mobilization of savings and the absorption of liquidity circulating in the parallel market.

He maintained, in this regard, that since the launch of Islamic finance services , the number of counters opened by banks, until the month of May, rose to 310 counters dedicated to this mode of financing.

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