The BEA sells so-called “halal” cars for its customers thanks to a loan that complies with Sharia. For the curious, don’t move! We tell you more, just below.
So what is this new service which consists of selling “halal” cars in Algeria? And where can we benefit from this offer? To begin with, it should be noted that the External Bank of Algeria (BEA) recently launched seven new products for the benefit of its individual clients as well as companies. Knowing that these services have the particularity of being Shariah compliant.
Effectively, they have been approved by the National Sharaic Fatwa Authority for the Islamic Finance Industry and the Sharaic Banking Authority which concerns current accounts, savings accounts. And the Murabaha on real estate, cars, and equipment. Do you want to know more? That’s good! We deliver to you, this Sunday, January 02, 2022, more details in this regard.
In addition, the said Islamic financial services are, for the moment, available at the level of three branches of the BEA. And this, from last Thursday, informs the Arabic-speaking daily Echorouk in its edition of this Saturday. It should be noted, among other things, that it is normally expected that these products will be available at 42 other agencies during the current year.
This will obviously include the service for selling halal cars in Algeria. Individuals will therefore benefit from an Islamic deposit account in which they can save their money. That’s not all! They will also be able to have an Islamic current account and an Islamic savings account which aim to encourage savings according to Sharia-compliant formulas. This is also what the same source informs us.
The sale of halal cars in Algeria: for whom is this product of Islamic finance intended?
The External Bank of Algeria (BEA) also offered products for companies. Among them, the possibility of opening a term deposit account as well as the Murabaha service for equipment, real estate, and cars which includes individuals and companies. Knowing that the sale of halal cars is among the most requested products in banks in Algeria, specifies the aforementioned daily.
On the other hand, POA is preparing to launch very soon the possibility of opening an Islamic deposit currency account as well as the Murabaha for goods. In addition to “Salam” contracts and capital leases for equipment. Services that should be in high demand by Algerian citizens predict specialists. This is what the same source reported.
