Developing the Role of Algeria’s Bank to Integrate Islamic Banking Products and Waqf Investments Formulas Under Review of Framework Number 20/02, and Instruction Number 20/03

Abstract

This paper deals with the nature of the Algerian banking system and its institutions, as well as highlighting the status of the Islamic banks and its obstacles in this system, Moreover addressing Islamic Banking Products under Framework number 20/02, and instruction number 20/03 issued by the Bank of Algeria, plus the Waqf Investment Methods and its integration in the Algerian financial and banking system, Also Addressing the legal adaptation and organizational transformation needed to integrate the Islamic banking industry in the Algerian economy, in addition to institutional, Financial, and Accounting adjustments, and the development of banking tools suitable for Islamic banking, In order to integrates Islamic banking and take into account its different operational peculiarities from conventional banks, thus benefiting from the opportunities and possibilities offered by Islamic finance industry in the field of resource mobilization, and exercising it in the Algerian economy.