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Update: Monday, 14 April 2008    

Algeria : BDL launches a special credit for the holy month

10 000 to 15 000 dinars of interest-free loans
Wednesday Oct 04 2006.

Assistant Manager of the Local Development Bank net work, BDL, Mr Abbès said that the first week of granting interest-free loans for the month of Ramadan was launched by the financial institution last 26 September.

It was received positively by many clients. He explained that the clients of the bank enjoy credits of 50% of salaries which can reach 30 thousand dinars.

The official told El Khabar that the credits allocated from the Bank are special to the month of Ramadan and the clients owning accounts in the Bank. In the same context, he added that paying off the credits will be done on three stages during three months from the end of November to the end of January.

The bank does not impose any interest rate on the credit. He stressed on the fact that measures have been made easier. As regards the results of the first week of the operation start, Mr Abbès said that there was a large affluence of clients. He expects more for the second month of Ramadan.

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