Algerians avoid interest-based consumption loans

No trace of consumption loan was shown during the 49th edition of the Algeria International Fair. Most of Algerians did not accept interest loans.

According to local producers and banks representatives, the consumption loan project faced major problems related to interests. 

Negative results

Managing director at Atlas company Mustapha Boutercha said the company did not start applying consumption loans. 

Marketing and communication official at Eni electronic industries enterprise Sihem Khaili told Echorouk consumption loans were hindered by housing programs as clients should pay to get their houses.

Avoiding interest-based loans

According to BDL bank’s representatives, Algerians avoided consumption loans as interest is estimated at 9 percent. This is forbidden in Islam.