Algeria's Islamic finance sector has achieved a significant milestone, with its market value now surpassing 1,000 billion dinars, or one trillion dinars. This development, occurring six years after the introduction of its initial windows, underscores a robust growth trajectory within the national financial landscape. The figures were reported by Sofiane Mezari, head of Islamic finance at Banque Arabe and a member of the dedicated commission within the Professional Association of Banks and Financial Institutions (ABEF), as cited by the daily Echourouk. The sector currently involves thirteen participants, including two fully operational Islamic banks and eleven traditional banking institutions that operate specialized Islamic finance windows. This market has also seen a broadened geographical presence and an expanded array of products and services, enhancing accessibility for a growing clientele of both individuals and businesses.<\/p>\n
The sector's growth is further evidenced by its rapid collection rate, having exceeded 800 billion dinars by the close of 2023, with deposits projected to reach 900 billion dinars in early 2025, maintaining an annual growth rate of 25 to 30 percent. A notable area of development includes payment instruments, with Banque Arabe offering various Islamic-compliant cards, such as an Islamic interbank card and an international Visa payment card, which, according to Sofiane Mezari, can be issued within 48 hours. The offerings also encompass "halal" foreign currency and savings accounts, adhering to a foundational principle of complete separation between Islamic and conventional banking funds. This expansion of Islamic payment methods is supported by the Banque d'Alg\u00e9rie's directive to facilitate household access to savings products, including those under Islamic finance.<\/p>\n
Looking ahead, a key priority for the coming years is the expansion of corporate financing, according to Sofiane Mezari. This strategic shift aims to transition Islamic finance from primarily addressing individual needs to supporting investment and broader economic activities, thereby strengthening its role within the national financial system. This direction aligns with initiatives such as that by Cr\u00e9dit Populaire d'Alg\u00e9rie (CPA), which, as of June 2026, extended its Islamic finance offerings to include major investment projects with financing terms of up to fifteen years. The market is seen by Sofiane Mezari as entering a phase of maturity, building upon years dedicated to establishing its regulatory and institutional foundations.<\/p>\n
The focus now extends beyond merely increasing market volume and network expansion to encompass the diversification of products tailored for businesses, the development of Islamic investment instruments and capital markets, and an accelerated digital transformation of services. This digital push is driven by increasing demand for online account opening, fund management, and remote payment solutions. Concurrently, efforts in professional development are ongoing, highlighted by a convention signed by Cosob in April 2026 with the Institute of Research and Training in Islamic Finance, addressing the persistent need for qualified expertise in this evolving sector. Sofiane Mezari advocates for a more comprehensive integration of Islamic finance into the financing mechanisms of the real economy, through mobilizing savings, funding business ventures, and developing new financial tools to foster investment and economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
Algeria’s Islamic finance sector has achieved significant growth, with deposits and financing now exceeding 1,000 billion dinars, marking a new phase of development focused on expanding into the corporate sector. This expansion highlights the sector’s increasing contribution to the national economy and its diversification efforts.<\/p>\n","protected":false},"author":1,"featured_media":67358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"cybocfi_hide_featured_image":"","iawp_total_views":1,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-67359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-algeria"],"acf":[],"_links":{"self":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts\/67359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67359"}],"version-history":[{"count":0,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/posts\/67359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=\/wp\/v2\/media\/67358"}],"wp:attachment":[{"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dzwatch.dz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}