Algeria: Islamic banks and finance
Checked on October 12, 2026
Algeria regulated Islamic finance through Bank of Algeria Regulation 20-02 (March 2020) and then enshrined it in Monetary and Banking Law 23-09 of June 2023; each product must be certified by the institutionâs Sharia board and by the National Sharia Fatwa Authority for Islamic finance. There are two fully Islamic banks, Al Baraka Bank AlgĂ©rie (1991) and Al Salam Bank Algeria (2008), and since 2020 all six state-owned banks have opened Islamic windows, as have several private banks. Deposits collected by Islamic finance reached DZD 794bn at the end of June 2024. Takaful insurance has had a regulatory framework since 2021, but the offer remains limited.
The 11 providers
-
Banque Al Baraka dâAlgĂ©rie
Islamic bank- Group
- Al Baraka Group (BahreĂŻn)
- Since
- 1991
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business
-
Al Salam Bank Algeria
Islamic bank- Since
- 2008
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Card, Savings, Home finance, Car finance, Personal finance, Business
-
Banque Nationale dâAlgĂ©rie (BNA) â finance islamique
Islamic window- Group
- BNA (Ătat algĂ©rien)
- Since
- 2020
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Savings, Home finance, Car finance, Personal finance, Business
The first state bank to launch Islamic products in 2020, BNA renewed its âAl Sabilâ Hajj financing product in January 2026.
-
CrĂ©dit Populaire dâAlgĂ©rie (CPA) â finance islamique
Islamic window- Group
- CPA (Ătat algĂ©rien)
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Savings, Home finance, Car finance, Personal finance, Business
-
Banque ExtĂ©rieure dâAlgĂ©rie (BEA) â finance islamique
Islamic window- Group
- BEA (Ătat algĂ©rien)
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Savings, Home finance, Car finance, Business
-
Banque de DĂ©veloppement Local (BDL) â finance islamique
Islamic window- Group
- BDL (Ătat algĂ©rien)
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Savings, Personal finance, Car finance, Business
-
BADR â finance islamique
Islamic window Activity to be confirmed- Group
- BADR (Ătat algĂ©rien)
- Supervision
- Banque dâAlgĂ©rie
The bank is among the state institutions with an Islamic window since 2020-2021, but its website was unreachable during the October 2026 check.
-
CNEP-Banque â finance islamique
Islamic window Activity to be confirmed- Group
- CNEP-Banque (Ătat algĂ©rien)
- Supervision
- Banque dâAlgĂ©rie
Specialising in savings and housing, CNEP-Banque is one of the state banks with an Islamic window, but its website was unreachable during the October 2026 check.
-
Gulf Bank AlgĂ©rie (AGB) â produits participatifs
Islamic window- Group
- Burgan Bank (groupe KIPCO, KoweĂŻt)
- Supervision
- Banque dâAlgĂ©rie
- Products
- Current account, Savings, Car finance, Business
-
Trust Bank Algeria â Ă©pargne participative
Islamic window- Group
- Trust Bank Algeria
- Supervision
- Banque dâAlgĂ©rie
- Products
- Savings
-
Salama Assurances Algérie
Takaful insurer Activity to be confirmed- Supervision
- CSA
A property and casualty insurer active for more than 19 years with 260 outlets, Salama has historically been associated with takaful, but its 2026 website presents no takaful offer.
Before you commit
- Ask for the names of the Shariah board members and their published rulings on the product.
- Check that the provider is authorised by the countryâs regulator.
- Compare the total cost, not just the monthly payment: the calculators in this section can help.
- Read the contract: who owns the property, who bears the risk, late-payment charges and where they go.