Banque Nationale d’Algérie Announces Plan to Expand Shariah-Compliant Finance Activities Nationwide

Banque Nationale d’Algérie (BNA), a commercial bank in Algeria, has announced its intention to expand its recently launched Islamic finance activities to its nationwide network of 217 branches by the end of 2020, according to media reports.

BNA's current offering comprises a range of nine Shariah-compliant finance products, including Ijara materials, Murabahah services as well as Islamic savings, current and checking accounts, among others. Secretary of BNA, General Samir Tamrabet stated that 16 of BNA's agencies offer the new Islamic finance services so far, and that number would be extended up to 30 by the end of September 2020. Officials have asserted that the services would soon be generalized within th...