ISLAMIC FINANCIAL INSTITUTIONS IN ALGERIA (GLOBAL FINANCE 2008) : Banque Albaraka d'Algéria

Bank Albaraka d' Algeria is the first banking institution with mixed capital (public and private). Created on May 20, 1991, with a capital of 2.500.000.000 DA, the Bank started its bankings themselves during September 1991. Its shareholders are the Bank of l' Agriculture and of Rural development (Algeria) and the Group Dallah Albaraka (Saudi Arabia). Governed by the provisions of the Law n° 90/10 of April 14, 1990 relating to the Currency and the Credit, it is entitled to carry out all the bank transactions, of financing and d' investment, in conformity with the principles of the chari' has Islamic.
Banque Albaraka d'Algéria, a subsidiary of Bahrain-based Albaraka Banking, has a network of 17 branches in Algeria operated according to the principles of shariah. It plans to open 33 new branches in the next five years. The bank's earnings rose 34% in 2007, and total assets increased by 35% to $846 million. The return on average shareholder equity was more than 24%.
Strategy of the Bank s' articulate around the following axes of development: (1)To develop the management systems of the Bank. (2) Control of the costs and installation of the tools d' profitability and of follow-up of the performances analyzes. (3) Cover of the national market by l' extension of the network d' exploitation and l' widening of the line of goods. (4) horizontal Diversification of the wallet d' activity. (5)Reinforcement of equities of the Bank.