The article analyses current trends in development of finance market and banking system of Algeria. The experience of regulating partnership financing in the Republic of Algeria was studied, on the basis of which a conclusion was made about shortcomings of the legal and regulatory framework that hinders legalization of respective finance instruments. Special attention was paid to methodological and practical aspects in regulation of the banking sector. In spite of the fact that introduction of partnership financing could provide new opportunities for economy in Algeria, the authors showed that further development of the banking system and finance market of the country depends on adaptation to international standards, strengthening the regulatory base and improvement of finance literacy of the population. With effective macro-prudential regulation Algeria can take an important place in the regional system of Islamic finance and promote sustainable growth in national economy.
Galasova et al. (Tue,) studied this question.
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