What is in Algeria a list of Islamic banks without riba ?
In Algeria, a list of Islamic banks without riba consists of a current register of banks operating in the country that conduct all of their banking activities on a Sharia basis (no interest), under contracts such as murabaha, ijara and musharaka, and under the supervision of Sharia boards.
In Algeria, the list of sharia compliant banks matters for the Algerian public because it makes riba-free choices visible and verifiable, which supports financial inclusion and trust for households who wish to bank and finance homes, cars, or small businesses in line with their faith.
This list can be used to identify whom to approach first for fully halal everyday banking and financing, then compare product menus, documentation, and Sharia certifications; if a branch of a full Islamic bank isn’t near you, the Islamic-window counters at major public banks can be a practical alternative; their dedicated pages publish product details, agency coverage, and Sharia certificates you can review before applying.
What Islamic finance products Islamic banks and banks with Islamic windows are offering in Algeria ?
Here’s a refined overview of the types of Islamic finance products offered in Algeria—without referencing the names of specific banks—focusing solely on the financial instruments themselves:
Islamic Finance Products Available in Algeria
According to Algerian banking regulations (notably Regulation 20-02 and Instruction 20-03), the following Shariah-compliant financing instruments are officially permitted:
- Murabaha – A cost-plus sale contract where the bank buys an asset and sells it to the customer at the purchase price plus a pre-agreed profit margin, payable in installments.
- Ijara – A lease contract in which the bank purchases an asset and leases it to the customer for a defined period and rental. Ownership may transfer later, depending on the agreement.
- Musharaka – A partnership contract where both parties contribute capital to an enterprise or project, share profits according to agreed ratios, and bear losses in proportion to their contributions.
- Mudaraba – A trust-based contract where one party provides capital and the other provides expertise or management. Profits are shared per agreement; losses are borne by the capital provider.
- Salam – An advance buyer contract where the bank pays for a commodity upfront, with delivery deferred to a later date. Commonly used in agriculture or commodity trade financing.
- Istisna’a – A manufacturing or construction financing contract where the bank commissions an asset to be built per agreed specifications and delivers it at a future date.
Dialnet - Deposit Accounts & Investment Deposit Accounts – Shariah-compliant deposit instruments where banks safeguard customer funds and, for investment accounts, deploy them into compliant investments, returning principal or proceeds accordingly.
Broader Context & Emerging Products
In addition to these core banking instruments, Algeria is expanding its Islamic finance ecosystem:
- Sukuk (Islamic Bonds): The Algerian government has issued sovereign Sukuk as part of its financial initiatives, offering halal alternatives to conventional government debt.
- Islamic Consumer Financing (from 2025): Under new regulations, Algerian financial institutions will be authorized to provide Shariah-compliant consumer financing (e.g., for education, healthcare, tourism) via installment contracts without interest.
Is there a list of Islamic banks in Algeria ?
Yes—here’s the current picture for Algeria (as of 9 Sept 2025), split into fully Islamic banks and conventional banks that run an Islamic window (guichet/“fenêtre” islamique):
Algeria’s Fully Islamic banks (no riba)
- Al Salam Bank Algeria (ASBA). alsalambank.com
- Banque Al Baraka d’Algérie. albaraka-bank.dz
Conventional banks with an Islamic window
- Banque Nationale d’Algérie (BNA) — official Islamic products (e.g., Salam, Istisna’, investment certificates). bna.dz
- Crédit Populaire d’Algérie (CPA) — dedicated “Finance islamique” with Sharia certificates and branch rollout. cpa-bank.dz
- CNEP-Banque — Islamic window network expanded since 2020 (APS/ministry notices of new guichets).
- Banque Extérieure d’Algérie (BEA) — “Finance Islamique” pages & simulators. bea.dz
- Banque de l’Agriculture et du Développement Rural (BADR) — Islamic finance launched across multiple local agencies.
- Banque de Développement Local (BDL) — Islamic window with products (Ijara, Murabaha, etc.) and a dedicated agency. bdl.dz
- Bank ABC Algérie — “alburaq” Islamic finance window/counters. bank-abc.com
- Gulf Bank Algérie (AGB) — Islamic products such as Murabaha Teshilat (retail). agb.dz
Why this matters / how to use it: Algeria’s Islamic finance is governed by Regulation 20-02 (Bank of Algeria) defining Islamic banking operations and conditions. When you contact a bank, ask for (1) Sharia Board details and the product compliance certificate, and (2) the exact contract type (Murabaha, Ijara, Musharaka) and pricing/fees. Islamic windows can be a practical alternative where a full Islamic branch isn’t nearby. bank-of-algeria.dz
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