The National Bank of Algeria (BNA) has announced the launch of a new initiative aimed at Algerian residents abroad, offering a range of financing and services compliant with Islamic banking principles. This initiative, dubbed “Bladi DZ” (My Country Algeria), seeks to facilitate remote financial management and encourage investment in Algeria.
According to a statement released by the BNA, the offering includes a comprehensive suite of Islamic accounts, checks, savings options, investment opportunities, and real estate financing structured according to Islamic principles such as Murabaha (cost-plus financing), Ijara (leasing), and Istisna’a (manufacturing contract).
The “Bladi DZ” program also provides access to modern banking and digital services, including CIB bank cards, e-banking platforms, SMS banking, and contactless payment applications. The bank emphasizes that this comprehensive solution enables non-resident Algerians to acquire properties in Algeria as a sustainable investment, plan for retirement, and strengthen family and cultural ties with their homeland.
Opening an Islamic account under this program provides numerous advantages, including simplified local transactions, secure savings, remote account management via the internet, access to financing specifically tailored for non-resident Algerians, secure online and in-person payment options, and instant notifications regarding account activity. The program also facilitates immediate receipt and transfer of funds.
The National Bank of Algeria reiterates its commitment to supporting the Algerian diaspora by providing innovative and modern Islamic banking solutions that contribute to economic development and strengthen connections with Algerians living abroad. This initiative underscores the BNA’s dedication to serving the financial needs of its citizens, both at home and in the diaspora.
