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ALGIERS – The National Bank of Algeria (BNA) has launched a range of Islamic banking accounts and property finance products based on the Murabaha, Ijara and Istisna’a models, aimed at Algerians living abroad, it announced in a statement on Tuesday.
Named “Bladi DZ“, this offering—which aims to facilitate remote financial management and encourage investment in Algeria—includes “a comprehensive range of Islamic accounts (current, savings and investment), Islamic property finance under the Murabaha, Ijara and Istisna’a, as well as modern banking and digital services, including CIB cards, e-banking, SMS banking and the Wimpay app.
In particular, it enables non-resident Algerians to purchase property in Algeria, which represents a long-term investment, a retirement plan and a means of helping to strengthen family and cultural ties with the country, the same source notes.
Opening an Islamic BNA account as part of the “Bladi DZ” solution therefore offers several benefits, including simplified local transactions, secure savings, and the ability to manage accounts
remotely and online, access to dedicated financing for non-resident Algerians, secure online and in-store payments and purchases, real-time notifications on accounts and transactions, and the ability to receive and transfer money instantly.
With this offer, BNA reaffirms its commitment to supporting the diaspora by providing modern and innovative Islamic banking solutions, thereby contributing to economic development and
strengthening ties with Algerians living abroad, the press release concludes.
Source: APS
