The Foreign Bank of Algeria (BEA) signed, Sunday in Algiers, two agreements with the insurance company “El-Djazaïr El-Moutahida Family Takaful” with a view to guaranteeing insurance for Islamic finance products marketed at counters of the bank throughout the national territory, indicated a press release from the BEA.
The two agreements were signed at the headquarters of the general management of “El-Djazaïr El-Moutahida Family Takaful” by the deputy general director of the BEA, Mounir Belala and the CEO of the insurance company, Chakib El Kacimi El Hassani in presence of executives from both establishments.
The first agreement, specifies the press release, concerns “death” and “disability” insurance while the second is intended for the insurance of consumer equipment and land granted to customers.
“This approach is part of the BEA’s strategy aimed at the development of Islamic finance activity allowing better management of risks linked to this product formula,” explained the Foreign Bank of Algeria.
It also aims to strengthen the confidence of the bank’s customers seeking financing in accordance with Islamic Sharia while diversifying the products and services offered to customers, including bank insurance products, added the bank in its press release.
2023-09-10 22:59:22
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