To always be closer to its clients’ expectations, the National Bank of Algeria is launching, in the coming days, four (04) new Islamic products. Indeed, the Bank has just received authorization from the Bank of Algeria for the marketing of the products “SALAM”, “ISTISNA’A–Real Estate Promotion”, the “Investment Certificate”, and “ISTISNA’A DARI”.
The “SALAM” financing is intended for merchants, professionals, and companies with commercial or production activity. The financing can reach 100% of the financing needs expressed by the client.
As for the product “ISTISNA’A–Real Estate Promotion”, it is addressed exclusively to real estate developers. This formula is dedicated to financing the realization of real estate projects, real estate developments, extensions, fittings, and renovation of real estate properties. The financing rate can reach 70% of the cost of works.
The “Investment Certificate” is a placement 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.
Regarding the product ISTISNA’A “DARI”, it is intended for financing the construction, extension, or fitting out of a home for individuals. The financing amount can reach 100% of the cost of works with a repayment duration 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 the approach of permanent enrichment of the product range and optimization of the customer experience.
These four new products, which enrich an offer composed of about fifteen other Sharia-compliant products already marketed by the Bank, make it possible to meet a broader and more diversified demand from the clientele. In addition to its efforts in the diversification and permanent enrichment of its range of Islamic products and financing, the National Bank of Algeria has invested heavily in the extension of its commercial network dedicated to Islamic Finance. The network dedicated to this activity counts eleven (11) agencies and one hundred and four (104) windows, totaling one hundred and fifteen (115) representations distributed throughout the national territory.
