ISFIN develops Algerian market with The Tax and Accountancy firm Deramchi (CCFD)
ISFIN has teamed up with the Tax and Accountancy firm Deramchi (CCFD) as its exclusive partner in Algeria.
Laurent Marlière, CEO of ISFIN says: “The Algerian economy is heavily reliant on the hydro-carbons sector. Algeria is currently the world's second biggest exporter of gas and it possesses the world's fifth largest natural gas reserves. To achieve diversification the government has launched a massive effort to improve infrastructure, expand access to services (such as housing, water, energy, health), and create a skilled labor force. The Algerian government is also committed to opening up trade, and to encouraging inward investment, particularly by western companies interested in using Algeria as manufacturing base, or in undertaking joint ventures with local companies to help them boost export activities.
Furthermore, the government in recent years has adopted expansionary public spending programs, it is the right time for investors to consider expanding in Algeria and our partner DERAMCHI is the right entity to assist!
Laurent Marlière adds: “Algeria has opened his door to Islamic finance and Banking in the early 90s. Government introduced The Law on Money and Credit in 1990 and that was the first step to remove many barriers towards domestic and foreign banks.
The first bank to be established was Al Baraka Bank in 1991, which is growing and opening new branches all around Algeria. The presence of Al Salam Bank and Gulf Bank is more recent. Salama Insurance Company is also there.
Algeria’s financial sector is still dominated by public banks, and there’s clearly a need to further modernize and deepen the financial sector to facilitate access to credit.
This is a very productive ground to Islamic finance to develop, integrating the islamic financial services with other services such as accounting, law,…
The Founder of the Tax and Accountancy firm Deramchi says: “We offer many services such as taxes advices, investment advices, accountancy, Audit,… Our firm laid ties with a number of firms and financial institutions at an international level. We have clients such as General Electric, Snc Lavalin, Henkel, Bnp Paribas, Merck Sharp & Dohme, Agfa Healthcare, and many more.”
He adds: “Teaming up with ISFIN will bring us the right expertise and contacts to highlight Islamic finance and its opportunities ”
ISFIN is the world’s leading platform for professional firms specializing in Islamic Finance, investments from and to the Muslim world and the Halal industry. The alliance covers more than 75 jurisdictions around the world. ISFIN is composed of the most innovative and highly regarded independent professional firms in their field.