The trend towards Islamic products in Algeria motives and obstacles

Abstract

This study highlights the Algerian experience with Islamic finance as it seeks to reform its financial system by adopting Islamic finance products of all kinds, whether through Islamic branches or traditional banks (public and private) that have opened private windows. However, this experience still faces many challenges to its growth and development, the most important of which is the lack of clarity in the legal frameworks governing it, particularly in the absence of a national legal body for the advisory services of the Islamic financial industry, to exercise control over the products put forward and not exempt them from the provisions of the traditional banking system, which in formulating it did not take into account their specificity and nature.