2023-12-31 09:55:28
ALGIERS – Four (04) new Islamic finance products, dedicated to businesses, individuals, professionals and real estate developers, will be launched in the coming days by the National Bank of Algeria (BNA), said a press release on Sunday of this public bank.
This involves financing called “Salam”, “Istisna’a – real estate promotion”, “Investment certificate” and “Istisna’a Dari”, explains the same source, stressing that the marketing of these products takes place following the bank has received authorization from the Bank of Algeria.
Regarding the “Salam” product, it is intended for traders, professionals and companies with a commercial or production activity, according to the bank which specifies that “financing can reach 100% of the financing needs expressed by the customer”.
As for the product “Istisna’a – real estate promotion”, it is aimed exclusively at real estate developers, adds the press release, noting that this formula is dedicated to financing the realization of real estate projects, real estate promotions, extension, development, as well as the renovation of real estate.
For the “Investment Certificate”, it is an investment product allowing companies, individuals and professionals to invest in the basket of financing projects undertaken by the Bank. The placement comes in two forms: with remuneration or without remuneration, according to the BNA.
Concerning the “Istisna’a Dari” product, it is intended to finance construction, extension or development operations of private homes, announces the Public Bank which explains that the financing amount can reach 100% of the cost of the work with a repayment period that can extend up to the age of 75.
The marketing of these four new financing and savings products compliant with the precepts of Islamic Sharia constitutes “an additional step in our approach to constantly enriching our range of products and optimizing the customer experience”, affirms the communicated.
These four new products, which enrich an offer made up of around fifteen other products compliant with the precepts of Sharia, already marketed by the Bank, make it possible to “respond to a broader and more diversified demand from our customers”, recalls the BNA.
In addition to its efforts made in the diversification and permanent enrichment of its range of products and Islamic financing, the BNA has invested “a lot” in the extension of its commercial network dedicated to Islamic Finance, she said. explained, recalling that its network dedicated to this activity has eleven (11) agencies and one hundred and four (104) counters, or one hundred and fifteen (115) representations distributed throughout the national territory.
The launch of new Islamic financing and savings products, combined with this investment in the extension of its network dedicated to Islamic Finance, only “strengthens the leadership of the BNA in this activity, which is a major axis of its development, in line with the orientations of the Public Authorities in terms of resource collection and financial inclusion”, concludes the press release.
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