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Islamic Finance in Algeria: New developments and prospects Play

Islamic Finance in Algeria: New developments and prospects

Publicado el 12 de febrero 2021
On Thursday, February 18, we offer this round table on our YouTube channel that will analyze the changes introduced over the last year by the government for the promotion of Islamic finance in Algeria, in the hands of experts and representatives of the banking sector in the country. In August 2020, Algeria’s National Bank officially launched its Islamic finance services. At the end of January this year, the Algerian government has just presented also a draft executive decree to regulate takaful (insurance services complying with Islamic Shariah law) business. These developments are part of a broader governmental policy to promote Islamic banking in the country. The declared objective is to integrate those sectors of the population still out of the banking sector and mobilize funds into the economic system from the informal market, which Algerian Central Bank estimates that may amount to $30 or $35 billion. According to the World Bank, only 42% of the Algerian population over 15-years-old has an account in a financial institution, a mere 29% made an active use of it and just a 2% made payments using a mobile phone or the internet (G20 Financial Inclusion Indicators Database, data of 2017). Some experts believe that Islamic banking could attract customers who refrain from operating with conventional banks due to religious considerations or to avoid lending or borrowing money with interest. Islamic banking in Algeria has been operating since 1991, when Al Baraka Group opened its branch there, Al Baraka d’Algérie, joined in 2008 by Al Salam Bank-Algeria. However, till recently it has remained a small niche of the banking industry. Mobilizing those funds could introduce liquidity and ease the socioeconomic situation in the country, in a context of low oil prices and economic crisis exacerbated by the Pandemics. The roundtable, organized in the framework of the SCIEF-Casa Árabe Observatory of Islamic Finance in Spain, will analyze the new changes and regulation put into place into the Algerian banking system to identify the challenges and perspectives for the development of the industry in the country. Program 10:30 Roundtable Fatiha Talahite, Senior Researcher with the CNRS and Member of Cresppa-GTM (Centre de Recherches Sociologiques et Politiques), Paris Mohamed Boudjellal, Professor of Economics, Université de M’Sila, Algeria Zakaria Slimani, Assistant to the General Manager, Bank Al Baraka of Algeria Abdelhafid Benamraoui, Principal Lecturer in Finance, University of Westminster, London Moderator: Olivia Orozco, Education and Economics Coordinator, Casa Árabe 11:45 Debate with members of the Observatory and participants First reaction: Gonzalo Rodríguez, General Coordinator, SCIEF More information: https://en.casaarabe.es/event/islamic-finance-in-algeria-new-developments-and-prospects Photo: Maghrebia. 110414 Algerians seek expanded Islamic banking options

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  • Islamic Finance in Algeria: New developments and prospectsVer vídeo

    Islamic Finance in Algeria: New developments and prospects

    On Thursday, February 18, we offer this round table on our YouTube channel that will analyze the changes introduced over the last year by the government for the promotion of Islamic finance in Algeria, in the hands of experts and representatives of the banking sector in the country. In August 2020, Algeria’s National Bank officially launched its Islamic finance services. At the end of January this year, the Algerian government has just presented also a draft executive decree to regulate takaful (insurance services complying with Islamic Shariah law) business. These developments are part of a broader governmental policy to promote Islamic banking in the country. The declared objective is to integrate those sectors of the population still out of the banking sector and mobilize funds into the economic system from the informal market, which Algerian Central Bank estimates that may amount to $30 or $35 billion. According to the World Bank, only 42% of the Algerian population over 15-years-old has an account in a financial institution, a mere 29% made an active use of it and just a 2% made payments using a mobile phone or the internet (G20 Financial Inclusion Indicators Database, data of 2017). Some experts believe that Islamic banking could attract customers who refrain from operating with conventional banks due to religious considerations or to avoid lending or borrowing money with interest. Islamic banking in Algeria has been operating since 1991, when Al Baraka Group opened its branch there, Al Baraka d’Algérie, joined in 2008 by Al Salam Bank-Algeria. However, till recently it has remained a small niche of the banking industry. Mobilizing those funds could introduce liquidity and ease the socioeconomic situation in the country, in a context of low oil prices and economic crisis exacerbated by the Pandemics. The roundtable, organized in the framework of the SCIEF-Casa Árabe Observatory of Islamic Finance in Spain, will analyze the new changes and regulation put into place into the Algerian banking system to identify the challenges and perspectives for the development of the industry in the country. Program 10:30 Roundtable Fatiha Talahite, Senior Researcher with the CNRS and Member of Cresppa-GTM (Centre de Recherches Sociologiques et Politiques), Paris Mohamed Boudjellal, Professor of Economics, Université de M’Sila, Algeria Zakaria Slimani, Assistant to the General Manager, Bank Al Baraka of Algeria Abdelhafid Benamraoui, Principal Lecturer in Finance, University of Westminster, London Moderator: Olivia Orozco, Education and Economics Coordinator, Casa Árabe 11:45 Debate with members of the Observatory and participants First reaction: Gonzalo Rodríguez, General Coordinator, SCIEF More information: https://en.casaarabe.es/event/islamic-finance-in-algeria-new-developments-and-prospects Photo: Maghrebia. 110414 Algerians seek expanded Islamic banking options
    Publicado el 12 de febrero 2021
  • Perspectivas económicas y oportunidades de negocio en los países árabes del MediterráneoVer vídeo

    Perspectivas económicas y oportunidades de negocio en los países árabes del Mediterráneo

    Conferencia ofrecida por Fathallah Sijilmassi, secretario general de la Unión por el Mediterráneo (UpM), el lunes 17 de diciembre de 2012 en Madrid. El acto, organizado con la Cámara de Comercio, Industria y Servicios de Marruecos, fue presentado por José Luis Pardo, subdirector general para las Relaciones Exteriores y Asuntos Comerciales de la Unión Europea, y Leila Hayat, presidenta de la Cámara de Comercio, Industria y Servicios de Marruecos en España (CCISME). El cierre corrió a cargo de Ramón Enciso, vicepresidente de CCISME. Más información: http://www.casaarabe.es/noticias-arabes/show/oportunidades-de-negocio-en-los-paises-arabes-del-mediterraneo
    Publicado el 15 de julio 2014
  • Conferencia: "Microfinanzas en el mundo árabe", por Tawfiq NassarVer vídeo

    Conferencia: "Microfinanzas en el mundo árabe", por Tawfiq Nassar

    Desde los primeros experimentos efectuados en la década de 1970 para proporcionar pequeños préstamos a personas o grupos con pocos medios económicos (habitualmente excluidos del sistema financiero tradicional), los microcréditos han crecido exponencialmente hasta convertirse en una sofisticada industria. Sin embargo, las experiencias en la región árabe varían ampliamente según el país y, tanto en sus productos como en escala e inclusión, la microfinanciación tiene todavía un importante potencial por desarrollar. Participan en la mesa: - Tawfiq Nassar, especialista en microfinanzas y socio en la consultoría Optimum en Ramallah - Javier Alfonso Gil, coordinador del Máster en Desarrollo Económico y Políticas Públicas, Universidad Autónoma de Madrid - Karim Hauser, responsable del programa de Gobernanza de Casa Árabe Más info: www.casaarabe.es/noticias-arabes/show/microfinanzas-en-el-mundo-arabe
    Publicado el 11 de junio 2014
  • المنتدى الأول الإسباني والسوداني / Conferencia sobre desarrollo económico y financiero V.O. árabeVer vídeo

    المنتدى الأول الإسباني والسوداني / Conferencia sobre desarrollo económico y financiero V.O. árabe

    منتدى الاقتصاد والأعمال الذي من شأنه دراسة الحالة الاقتصادية في السودان، وكذا علاقاتها التجارية مع اسبانيا وفرص الإستثمار والأعمال التي تتيح للشركات الإسبانية. ويتميز الوفد السوداني بحضور وزير الإستثمار ، السيد مصطفى عثمان إسماعيل ، ووزير الزراعة والموارد الطبيعية بولاية الخرطوم، الأزهري خلف الله. وكما سيحضر أيضاً حكام محافظات الخرطوم وولاية نهر النيل، وممثلين عن وزارة المالية وبنك السودان المركزي ورجال الأعمال السودانيين. من بين أهم القطاعات يتميز الغذائي والزراعي، والمياه والري والطاقة والمتجددة، والبناء والبنية التحتية. ونظم بالتعاون مع الإتحاد الإسباني لمنظمات أرباب العمل (CEOE)وغرفة التجارة والصناعة في مدريد. http://ar.casaarabe.es/noticias-arabes/show/السودان-أرض-وشعب-وفرص I Foro Económico España-Sudán. Foro económico y empresarial que examinó la situación económica de Sudán, sus relaciones comerciales con España y las oportunidades de inversión y negocios que ofrece para las empresas españolas. La delegación sudanesa contó con la presencia del ministro de Inversión, Mustafa Osman Ismail, y el ministro de Agricultura y Recursos Naturales del Estado de Jartum, Azhari Khalafalla. Además, participaron los gobernadores de las provincias de Jartum y Río Nilo, representantes del ministerio de finanzas, del Banco Central de Sudán y empresarios sudaneses. Entre los sectores de interés destacaron el agroalimentario, agua e irrigación, energía, renovables, construcción e infraestructuras. Organizado con la colaboración de CEOE Internacional y de la Cámara Oficial de Comercio e Industria de Madrid.
    Publicado el 11 de junio 2014