Al Baraka of Algeria launches two new financing schemes

This offer is aimed at businesses and comprises two components: working capital financing and investment financing, according to a press release from Al Baraka Bank of Algeria.

Innovative financing instruments

This initiative forms part of the bank’s strategy to strengthen its support for the national economy and to offer solutions tailored to the needs of different business sectors. In its press release, the bank states that this new offering is based on a comprehensive support package for businesses. In addition to financing solutions, it includes a current account, a CIB Business card, a range of digital services, and a free electronic payment terminal.

Through this scheme, the bank is demonstrating its commitment to providing its business customers with innovative and flexible financing solutions that comply with the principles of Islamic finance. The first component, dedicated to working capital financing, is designed to meet short-term needs related to day-to-day operations. It is intended to enable businesses to finance their operating cycle, manage cash flow gaps, ensure stock replenishment and cover unforeseen requirements, ensuring the continuity of their operations.

According to Al Baraka Bank of Algeria, this scheme stands out for its flexibility, the speed with which it can be set up, and its ability to be tailored to the specific nature of each business, with financing terms of up to 18 months. The second component focuses on investment financing and is aimed at professionals wishing to expand or modernise their business.

This solution enables financing of the purchase of equipment, machinery or commercial property, covering up to 100% of the asset’s value with a repayment term of up to 120 months. To this end, the bank utilises several Sharia-compliant financing structures, including Ijara, Murabaha, Musharaka and Istisna’a.

Tailor-made solutions

Al Baraka Bank of Algeria emphasises that this offer is aimed at a wide range of beneficiaries. This includes, in particular, shopkeepers, pharmacists, micro-enterprises, craftspeople, start-ups, professionals such as lawyers, solicitors and doctors, and sole traders. The stated aim is to support these groups at every stage of their journey, whether it involves setting up, expanding or developing their businesses.

In line with its positioning, the firm also emphasises the provision of personalised support by specialist teams, responsible for offering bespoke solutions tailored to clients’ specific needs. Interested professionals are therefore invited to visit their nearest branch or contact their advisor to arrange a personalised consultation.