Algeria Post and the External Bank of Algeria signed a framework agreement on Monday to develop new financial services and solutions under Islamic banking, using the murabaha model.
According to Algeria Post, the agreement is intended to establish lasting cooperation between the two institutions through complementarity and the exchange of expertise. It also provides for the development of services that reflect citizens’ expectations and beneficiaries’ needs.
The partnership is expected to bring more flexible and suitable services, while creating new ways for citizens to access innovative financial solutions based on trust, transparency and quality. The statement said the agreement also reflects both institutions’ commitment to strengthening cooperation across the financial and banking sector and developing partnerships that can improve customer experience and meet customer needs.