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Bank ABC Algeria opens its Islamic finance counter "alburaq" in the east of the country in the city of Setif
Continuing its policy of expansion in Algeria, Bank ABC inaugurated its "alburaq" counter dedicated to the operations of Islamic finance which is located at the Setif branch of Bank ABC located at: Rue Ben Daykha Mouloud N°04, Sétif.
Bank ABC has obtained the authorization of the Bank of Algeria for the marketing of its Islamic Finance products with a commercial offer offering 14 products in accordance with the principles of Islamic Sharia to meet the needs of corporate, professional and private customers.
In this context, Mr. Jawad SACRE, Managing Director of Bank ABC Algeria, declared: "Our objective is to expand the offer of Islamic finance through our network of branches on the national territory with an arrangement dedicated exclusively to the activity of Islamic finance guaranteeing the independence of its activity compared to the conventional activity of Bank ABC".
Mr. Samir REZAK, Director of Islamic Finance of Bank ABC Algeria, added: "Through our products in accordance with the precepts of Islamic Sharia, we wish to offer quality services presented by a team of professionals dedicated and trained for this purpose.
We are committed to serving our clients in accordance with our core values of fairness, commitment and transparency, inspired by the principles of Islamic finance.
In order to meet its commitments, the bank has set up a Sharia control committee composed of leading specialists in Islamic Sharia with a great mastery of Islamic, economic, legal and banking sciences, whose role is to guide, control and supervise the operations of Bank ABC's Islamic finance carried out through "alburaq".
The Managing Director of Bank ABC Algeria, Mr. Jawad SACRE, concluded: "The bank aspires to be one of the pioneers of Islamic Finance in Algeria by extending its commercial offer through its network of branches whose next openings of Islamic finance counters are planned in the West of the country and will be announced very soon".​​​