- President and General Manager of Al-Salam Bank Nasser Haidar for the Algerian magazine Al-Hiwar
- Individual financing is not limited to cars, but there is a financing package through the bank’s website
• Interlocutor: Saeed Batoul
The President and General Manager of Al-Salam Bank, Nasser Haidar, announced through the “Al-Hiwar” magazine that Al-Salam Bank will always be the pioneer in accompanying them in financing the acquisition of their cars in accordance with Sharia standards and their ability to repay, adding that financing individuals is not limited to cars only, but there is a package of financing. Invite everyone Get acquainted with it through the official website of the bank.
In the context of his speech, Haidar reviewed the product “My Tourism Investment Book”, according to which the customer benefits from installments for domestic tourism trips, which are in line with the directives of the public authorities.
He also revealed that the bank provided a package of real estate financing products for individuals under the name “Dar Al Salam”. To finance the beneficiaries of public housing formulas (LPP) and supported clavicular (LPA)in legal forms.
- Al Salam Bank launches new products each time that keep pace with market requirements. What are the new products that the bank intends to launch?
beginning We thank you for your interest And giving us the opportunity to introduce the bank and its products to your valued readers, FAl Salam Bank Algeria is an Islamic bank. All its transactions are subject to the provisions of Islamic Sharia and are regulated by binding Sharia standards under the supervision and control of a Sharia board approved by the General Assembly of Shareholders. Our products are approved by this body and by the National Sharia Board for Fatwas for the Islamic Financial Industry.
The bank also adopts, in its marketing policy, the equation of creativity and innovation in banking products, and the aim is to accompany customers through the development of various products, whether in the field of savings, such as the new product, the “My Umrah” investment book, which gives an opportunity for the saver to benefit from Umrah in installments at any tourist agency approved by the bank in the form Benefit rental, as well as the investment book “My Tourism”, where the owner of the book benefits from an internal tourist trip by installments at a travel agency or an accredited hotel as well.
This last product aims to motivate tourism agencies to target domestic tourism to give dynamism to the sector. It also encourages tourism agencies to localize their transactions in the banking sector, as well as spreading the culture of saving among families within the framework of financial inclusion.
In addition to savings operations, the bank seeks to develop electronic payment methods, in addition to the “safe” and “my wish” electronic payment cards, as well as the international “Visa” card. To pay by QR code QR code All of this is part of a forward-looking policy to digitize the bank’s services.
As for financing individuals, the “Facilitation” product was launched, which is a financing service in a legal form “deferred sale or in installments”. The customer benefits from legal financing in the context of his acquisition of electromagnetic materials through the e-commerce platform of our accredited partners without the need to move neither to the bank nor to the store, since The process takes place through a digital platform, and you can access the bank’s official website for an in-depth knowledge of our new products.
- All indications indicate that the year 2023 will be the year of true economic take-off. How will Al Salam Bank accompany the embodiment of this goal?
Through it, we assure you that ninety percent of the bank’s activity is directed to accompanying companies, and they are the target groups in our marketing policy, whether it is related to financing the operating cycle or investment funds to expand their transformational and manufacturing activities. The same in the national market to be among the bank’s clients, all she has to do is apply to any of our branches to open a commercial account so that she can benefit from all the services provided by the bank.
- aYou previously launched a new product for financing tourist trips.. What is your assessment of the experience?
Yes, indeed, we launched an innovative product under the name “My Tourism Investment Book” with income within the family of investment savings deposits products based on obtaining a share of the bank’s profits according to the legal speculation formula, and parallel to that, according to which the customer benefits from installments for domestic tourism trips, I assure the interior, and this is to encourage citizens on the one hand, for culture And the mentality of saving within the framework of the bank’s approved policy of financial inclusion, which is in line with the directives of the public authorities, and on the other hand, encouraging domestic tourism in a way that achieves dynamism and the advancement of the tourism sector and enables families with modest incomes to enjoy visiting the various parts of the country that are full of natural landscapes and historical monuments. Recreational sites, as well as allowing tourism agencies to activate their activities after the recorded recession due to the Covid epidemic, which negatively affected the tourism sector and its workers.
- Speaking of halal financing, can you tell us about the financing granted, whether in the field of building, buying or preparing homes, and how many applications did you fund in 2022?
Yes, Al Salam Bank offers a package of real estate financing products for individuals under the name “Dar Al Salam” as well We have developed a legitimate formula for financing the beneficiaries of public tarqawi housing formulas (LPP) and supported clavicular (LPA)It is based on the ownership company followed by a lease ending with ownership of the bank’s share of the housing due to the absence of ownership contracts that allow the bank to acquire housing and lease it as a lease ending with ownership as in normal cases. It is a formula approved by the Bank’s Sharia Board and the National Sharia Board for Ifta for the Islamic Financial Industry andOwnership company means the participation of the bank and the dealer in buying and owning the housing, whereby both pay a share of the price.
Islamic financial engineering provides a field of creativity that allows designing products that are in line with the Sharia controls of the contract used in accordance with the Sharia standards issued by the Sharia Board of the Accounting and Auditing Organization for Islamic Financial Institutions and commensurate with the data of the social and economic reality and the circumstantial needs of the dealers without exaggeration or negligence.
The balance of beneficiaries’ financing has reached the formula (LPP) One billion five hundred million dinars. We also have formulas for financing the preparation, expansion and construction of housing, Istisna’a and Ijarah associated with the contracting contract. Those wishing to benefit from “Dar Al Salam” products should browse the bank’s official website to find out the available financing formulas, especially sublease to rent a house or ownership lease to purchase an apartment.
- You started a while ago to access electronic payment .. How do you rate the experience?
Electronic payment was among the workshops given priority by the public authorities within the framework of reforming and developing the national banking system, and indeed from the traditional clearinghouse in which checks were passed and exchanged between banks at the level of the central bank, which used to take a great deal of time, negatively affecting the activities of economic dealers. Today, thanks to the efforts of bank supervisors, accompanied by the directives of the Central Bank and the authorized authorities, all of this has been culminated in the development of electronic payment methods in the form of electronic clearing and electronic transfers, not to mention the development of information systems and secure transfer channels. If the experience was pioneering and enabled the modernization of the national banking system through Developing electronic payment methods. The Bank of Algeria has also begun to digitize the regular reports of banks and gradually abandon paper copies, which will allow the exploitation of data and improve the quality of supervision of banks. Supervision and control of the Bank of Algeria in order to secure its use and circulation.
In line with the developments known to banking activity in the world in the field of digitizing banking services, Al Salam Bank Algeria was one of the first to take advantage of this technological boom by digitizing many of its services, starting with the payment services that I referred to above and the consumer financing service by selling installments remotely, all the way to the digitization of its procedures. to keep up with the provision of remote services and the use of electronic signature technology for this purpose.
- The field of emerging enterprises has become one of the requirements of the economy in the current era. Are there projects for the bank to invest in this field?
This type of financing facilities has been included within microfinance, and among the successful experiences is that the bank accompanied a startup active in the digital sector, “Diar Desire Foundation.” It was also programmed to accompany some startups within the framework of a program and under the supervision of the Retail Finance Cell. We follow the results and development of success These projects, despite the fact that the target of the bank’s activity is to accompany large, medium and small companies as a priority to contribute to building the national economic inventory effectively without neglecting the aspect of achieving profitability and ruling results. In profitable investment projects in a way that achieves profitability for all and stimulates capital owners to pump their money into the banking sector and gradually eliminate the parallel market.
- Are there investments that Al Salam Bank seeks to access, whether in the fields of industry and agriculture, especially since food security has become a top ruling goal?
Our view is comprehensive, so wherever there is an opportunity to invest the money of depositors, then there is our destination. Public authorities are watching over it.
If we give importance to all sectors, and as a matter of governance, embody the budget by distributing financial portfolios to various sectors, taking into account the criteria that we referred to in accompanying investors and economic dealers. During this year, we will work to enter the agricultural sector, which we deal with, in the form of leasing mobile equipment and pivot sprinkler equipment, and extracting water, by activating the participatory financing formula called farming, based on financing crops and planting vegetables with yield sharing, and authorizing the agricultural investor to market them and collect their price.
- There is no talk these days except for the return of importing cars after the issuance of the new book of conditions. What is the bank’s plan to accompany customer requests? ?
This type of product falls within the family of financing individuals under the name “facilitation.” The economy of the superpowers is based on financing individuals, and it is an important link in the chain of the economic cycle and gives a comprehensive dynamism, starting from the factory, through the agent, and ending with the consumer. Car manufacturing “will be done through banking channels, and through the large demand for this product, we anticipate that it will contribute to the development of the industrial fabric by absorbing unemployment for the labor force it needs, as well as small manufacturing establishments that will be established to accompany authorized agents in achieving the terms of the conditions book for car manufacturing, not to mention the policy Exporting cars after satisfying the needs of the national market, and therefore this sector can be a source of attracting hard currency instead of transferring it abroad.
Finally, I say that the car financing product is available at the bank within the limits of what is available from the production of the installation factories, and we give good news to the citizens that Al Salam Bank will always be the pioneer in accompanying them in financing the acquisition of their cars through in accordance with Sharia standards and their ability to pay.
In addition, financing for individuals is not limited to cars only, but there is a package of financing that they invited everyone to know through the official website of the bank
Finally, I thank you for this attention, and I wish the Algerian people a new year full of success, prosperity and sophistication, in light of our unity, our national dress, our religion, and the language of our Qur’an, our values that we cherish.
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