High Islamic Council: “CPA’s Qard Hassen Hajji meets aspirations of citizens, would relieve Algerian pilgrims”
BY: Hana Saada
ALGIERS– The interest-free credit for pilgrims, called “Qard hassen hajji” launched by the Algerian popular credit (CPA) bank for the second consecutive season, had obtained the certificate of compliance with Sharia of the National Fatwa Committee for the Islamic Finance Industry, said the head of the Islamic finance department of this public bank, Sofiane Mazari.
Stating that the value of the credit can reach 300,000 da without interest, Mr. Mazari recalled that this credit was intended for pilgrims “fulfilling the legal and regulatory conditions established by the competent authorities in this field.”
“Qard Hassen Hajji” is intended for resident individuals of Algerian nationality with a stable income and whose age is under 75, he added, before noting 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.
Regarding the repayment of the credit, the manager specified that it is done over 24 months, after the first three months of obtaining the credit.
For his part, the president of the Charaic Control Committee of the CPA and member of the High Islamic Council (HIC), Said Bouizri, estimated that “Qard Hassen Hajji” comes “to consecrate the social and religious dimensions, in a context marked by the rise costs of Hajj.”
Dr. Bouizri affirmed that this credit meets the aspirations of citizens, adding that it would “relieve Algerian pilgrims.”
