UAE's Essalam Bank gets go-ahead to work in Algeria

UAE's Essalam Bank is going to open a branch in Algeria with a capital of $100 million, according to a statement released Monday.

• Essalam is expected to start working in Algeria after Muslim holy fasting month of Ramadan to offer Islamic distinguished and innovative banking services.
• The vice president of the administration board said: “we will work on offering the best banking services to accompany current economic developments and events in Algeria.”
• “This to contribute in the reinforcement of economic development pillars in this country sister,” he added.