The Local Development Bank (LDB) announced the launch of Islamic banking services under the name “El-Badil”, from Monday, January 10, with the aim of providing new banking products that meet the demands and needs of citizens. , reports this Saturday, January 8, 2022, the official agency citing a press release from the public bank.
In the first stage, “El Badil” will be offered in the form of counters at the level of nine branches of this public bank.
These are 5 agencies in Algiers, namely those of Staouéli (158), Alger Center (107), Sidi Yahia (114), Baraki (108), and Hussein Dey (104), in addition to the agencies of Constantine (318 ), Ghardaîa (185), Oran (420) and Sétif (374), specifies the press release.
These nine Islamic counters will be operational gradually during the current month of January and will reach a total of 50 by the end of the year, the same source says.
El “Badil” foresees nine products certified by the National Sharaic Authority of Fetwa for the Islamic finance industry and the Charaic Control Committee of the bank.
These are the products Ijara Mountahia Bitamlik, Murabaha vehicle, Murabaha consumption, Murabaha investment for companies, Mourabaha exploitation for companies, Islamic current account, Islamic checking account, Islamic savings account and deposit in investment account Moudarabah, concludes the press release.
