Hajj 2023: People’s Credit of Algeria launches interest-free loan for benefit of pilgrims
BY: Hana Saada
ALGIERS- The People’s Credit of Algeria (CPA) announced, on Sunday, in a press release, the launch of an interest-free loan for the benefit of pilgrims, allowing them to pay the financial cost of the pilgrimage (Hajj), reported the official news agency.
Called “Qard Hassen Hajji”, this interest-free credit, certified Sharia-compliant by the National Fatwa Committee for the Islamic Finance Industry, is intended for pilgrims “fulfilling the legal and regulatory requirements established by the competent authorities in this area”, explained the same source.
Able to reach 300,000 DA, “Qard Hassen Hajji” is intended “for resident individuals, of Algerian nationality, with a stable income and whose age is less than 75 years”, underlined the document, adding that “the CPA also allows children or spouses of the pilgrim to subscribe to this credit to finance the pilgrimage of the parent and/or spouse”.
“This interest-free credit aims to strengthen the financial capacities of pilgrims and allow them to accomplish the 5th pillar of Islam in all serenity”, affirmed the public bank.
