Algeria’s Public Business Creation Fund Agency to Implement Shariah-Compliant Financial Products in November 2020

Algeria’s National Youth Employment Support Agency (Ansej), a public body that is responsible for managing a credit fund for the creation of businesses, has recently announced that it will be implementing Shariah-compliant financial products in cooperation with the Banque Nationale d’Algérie (BNA), according to media reports.

The financial products, which will be launched on the 1st of November 2020, will be based on the principles of Islamic law. According to media reports, the proposed Islamic financial products, as well as the terms and conditions for the granting of the financing have not yet been released.

According to Mohamed Cherif Bouaoud, Director Genera...