What is an Islamic cheque account?
It is a transaction account denominated in DZD based on the 'Kard Hassan' concept.
It enables its holder to manage daily transactions, receive deposits and pay various financial obligations.
What is a Kard Hassan?
It's an interest-free loan.
For whom is it intended?
The Islamic cheque account is a product intended for all Algerian nationals, whether resident or non-resident, for personal use.
What are the advantages of an Islamic cheque account?
It enables its holder to domiciliate their income (wages and other) and access all the associated products and services, such as:
- Cash deposits;
- Cheque collection;
Received transfers;
- Cash or card withdrawals.
- Cheque or card payments;
-Execution of ordered transfers.
IMPORTANT:
The Islamic cheque account must always show a credit balance and allow withdrawals within the available balance limit.
It is a non-interest-bearing account.
- No restrictions on transaction amounts.
Documents required:
- A valid official identity card;
- Official document proving place of residence.
Commissions and account operating fees:
The CPA will record the fees and commissions relating to transactions and commitments within the limits of the costs of the services provided by the CPA on the account.