Algeria calls on the Islamic banks to invest in its market

Talking from Cairo , the Algerian minister for the promotion of investments, Hamid Temmar yesterday declared “ Algeria has started the restructuring of the monetary system for the benefit of the economic activities and the promotion of investments with the privatization of some public banks and the opening of this sector to foreign partners with great financial and technological abilities”

Talking from Cairo , the Algerian minister for the promotion of investments, Hamid Temmar yesterday declared “ Algeria has started the restructuring of the monetary system for the benefit of the economic activities and the promotion of investments with the privatization of some public banks and the opening of this sector to foreign partners with great financial and technological abilities”

Addressing the audience in the Annual Forum of the Arab Monetary Union, M Temmar said that “he was sorry that the presence of the Arab banks is very weak in the Algerian market” which, on the contrary, witnesses a flourishing number of foreign banks, adding “Algeria is very concerned with the Islamic monetary system which on top of the agenda in this forum”

Temmar went on saying “This system has brought something new adopted by many in different parts of the world, based on the Islamic principles this system seduced non Islamic countries “.

I this respect, “ It is worth discussing this system and listen to the experts” Temmar added, especially that “ this year’s forum discusses the role of the Arab funds in financing Arab investments” the Algerian minister went on saying.