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September 21, 2025 | 2 weeks ago

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Islamic finance: 793.5 billion dinars in outstanding deposits in 2024

The latest report from the Bank of Algeria for 2024 shows an expansion of the national banking network, which numbered 1,673 branches at the end of December, including 401 for private banks.

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Islamic finance continues to grow in Algeria, with 102 specialized branches at the end of 2024, compared to 89 the previous year. This momentum is supported by a strengthened legal framework, notably with the introduction of sovereign Sukuk in the 2025 Finance Act,  diversifying sources of financing. Islamic finance deposits reached DZD 793.5 billion (+17%), while financing amounted to DZD 532.2 billion (+16%). Algeria also hosted the 2025 Annual Meetings of the Islamic Development Bank, which concluded with the signing of more than 70 agreements worth USD 5 billion. Furthermore, the Bank of Algeria highlights the strength of the banking sector: an increase in the money supply (+9%), growth in the number of accounts, an improvement in the ratio of bank branches to the working population, and comfortable liquidity. The sector remains well capitalized, liquid, and profitable, paving the way for increased banking intermediation and greater financial inclusion.

September 21, 2025 | algeria-logo

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