Evening Prepares to Launch a Public Islamic Bank
Member of the Islamic Higher Council, Mohamed Boujlal, revealed that authorities through the Ministry of Finance are preparing to launch a public Islamic bank in Algeria to promote Islamic financing and alleviate pressure on the current Islamic banking outlets, which have experienced unprecedented demand during the issuance of sovereign sukuk. Boujlal called on private operators to invest in the Algerian banking sector, especially in private banks operating according to Shariah law, noting that all of these banks are foreign. He emphasized that the conditions are favorable for such investment, given the political will, the market environment, and the legislative framework.
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