Algeria to get Islamic insurance products launched by Bahrai...| MENAFN.COM

Tuesday, 09 August 2022 08:51 GMT

Algeria to get Islamic insurance products launched by Bahraini bank


(MENAFN) Islamic insurance products and Visa credit card services are set to be launched in Algeria within this year by Bahraini Salam Bank as part of a development plan.

Algerian Islamic lender Salam Bank is to launch additional ten branches in the country seeing that Islamic products' sector is in constant growth, its chief Hideur Nasser declared.

Since 2014, a decline in oil revenues has affected public finances greatly, with dominant statebanks' lending struck by the drop.

Chief Nasser also confirmed the Algerian bank to introduce insuranceproducts, 'takaful' collaborating with Bahraini Al Baraka Banking group, however he provided no further information.

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