The legal framework of establishing Islamic banking windows in Algeria

Abstract

The Algerian banking sector has seen many developments in recent years, including the emergence of Islamic banking and the opening of Islamic banking windows at traditional banks and financial institutions to provide Islamic banking products in addition to their banking operations. traditional, with the publication of Regulation 20-02 and Instruction 20-03, in addition to Monetary and Banking Law 23-09. These legal texts highlighted the need for these counters to enjoy financial, accounting and administrative independence, and to be able to market Islamic banking products, the Algerian legislator stipulated that they must obtain a certificate of conformity, and a prior license from the Bank of Algeria, with the need to create a sharia control body within the bank or financial