Religious institutions as partners in economic development
The national seminar on Islamic finance in Algeria focused on the importance of developing the Islamic financial market to strengthen national savings and direct them toward productive investments, thereby contributing to diversifying sources of funding and achieving sustainable economic development. Participants emphasized the necessity of expanding Islamic banking activities, especially in the capital market, Islamic sukuk (bonds), and Takaful (Islamic insurance) as effective financing tools to support economic growth. The discussion also covered improving legal frameworks and accelerating digital transformation to establish specialized Islamic banks, with the aim of enhancing the competitiveness of Algeria's Islamic financial sector.
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