Volume of Islamic banking in Egypt estimated at EGP 459bn by end of September 2022
Faisal Islamic Bank is in the lead with a turnover of EGP 141.7bn — 30.9% of the total banking volume
Latest in Tag: Islamic banking Highlight
Latest in Tag: Islamic banking
Volume of Islamic banking in Egyptian market reached EGP 443bn by end of June
Faisal Islamic Bank of Egypt is in first place with a business volume of EGP 138.3bn
Islamic banking in Egypt amounts to EGP 429bn in 2021: Eifa
Islamic deposits record about EGP 350.4bn, financing reaches EGP 328bn
Islamic banking in Egypt valued at EGP 407bn in September 2021
Faisal Islamic Bank of Egypt in first place with turnover of EGP 126bn
Egypt accounts for EGP 347bn of global Islamic banking of $2.7trn: Finance Ministry
Finance Ministry cooperates with FRA, Al-Azhar, and Islamic banks to issue regulations of Sukuk Law
Islamic banking in Egypt valued at EGP 390bn in June 2021
Islamic banking accounts for 5.1% of Egyptian market size
4 banks acquire 90% of Islamic banking in Egyptian market
Faisal Islamic Bank of Egypt ranked first with EGP 119bn turnover in March 2021
Islamic banking valued at EGP 240bn at end-2017
The volume of Islamic banking in Egypt by the end of 2017 amounted to EGP 240bn, marking a growth of 16% from 2016, according to Mohamed El-Beltagy, head of the Egyptian Islamic Finance Association (EIFA). He explained that Islamic banking accounts for about 6% of the banking business in Egypt. He also said that the …
Islamic banking in Egypt worth EGP 222bn
The volume of Islamic banking in the Egyptian market reached EGP 222bn, an equivalent of 6% of total transactions of banks working in Egypt, according to Mohamed El Beltagy, head of the Egyptian Association for Islamic Funding. El Beltagy explained that the size of Islamic deposits at banks are estimated at EGP 190bn, while the …
Islamic banking sound option for enterprises facing economic slump
There are mounting concerns currently being voiced by prominent organisations, such as the International Monetary Fund (IMF) and the Bank of International Settlements, over the long-term impact of the slow growth rate reported across all major economic regions from the latter part of 2015 to early this year. Significant losses in the global financial and …
Banque Misr’s Islamic banking branches increase to 35
The bank supplied this branch with all modern equipment to guarantee an outstanding service level for the customer and to help them save time, especially after applying the e-linking system between all the bank’s branches.
20% of Egyptian SMEs prefer Sharia-compliant products: IMF
IMF recommends Islamic banks attract large numbers of Muslim population worldwide currently without bank accounts
Bank Audi aims to increase SMEs’ funding portfolio to EGP 400m by end 2015
Individual funding portfolio in Audi Bank in Egypt has reached EGP 2.4bn at the end of December 2014. General Manager of Audi Bank Egypt Mohamed Abbas Fayed said that the volume of small and medium enterprises (SMEs) portfolio has reached EGP 160m, noting that the bank aims to increase the portfolio funding to EGP 400m …
Islamic banking takes upward trend in Egypt
Approximately 2.5 million Islamic banking clients in Egypt, constitute 20% of country’s bank clients
Islamic finance body IIFM eyes first sukuk standard
Reuters – The Bahrain-based International Islamic Financial Market (IIFM) will develop its first standard contract template for sukuk (Islamic bonds), and aims to double the number of its standards as early as next year, its chief executive told Reuters. A standard for leasing-based sukuk will be developed first by the IIFM, a non-profit industry body …
IDB allocates $220m for Egyptian power project
Allocation comes as part of nearly $705m approved by the bank to finance projects in Muslim communities
Islamic banking remains unpopular in Egypt: Gallup poll
Despite the rapid growth of the Islamic finance industry, a Gallup poll reveals that only a fraction of adults use Islamic banking services in Egypt
Islamic finance industry will grow in 2014: AlHuda Centre for Islamic Banking and Economics
Former chairman of Misr Iran Development bank expects growth in the Islamic finance industry to match traditional sector’s growth
Will Islamic windows be prohibited at traditional banks?
The conference demanded that traditional banks establish independent Islamic banks as a legal entity instead of threatening the work of Islamic banking with traditional banks.
Middle East Forex Expo to discuss Islamic banking
Expo held in Dubai next week
A reform package for the Islamic banking and finance sector proposed for the new year
The goal of the package is to create an environment conducive for Islamic banks to operate
Huge mandate for planned new Islamic bank
By Bernardo Vizcaino / Reuters DUBAI: Gulf institutions plan to spur development of the Islamic finance industry by setting up a bank that would boost liquidity in Sharia-compliant markets. But the mandate of the bank is so wide that it may struggle to have an impact early on. The Islamic Development Bank (IDB), a Jeddah-based multilateral …
Islamic banking to boost loan growth in Oman, says NBK Capital
By Rachana Khanzode / Reuters MUSCAT: The introduction of Islamic banking in Oman will lead to loan growth of 15 percent this year, NBK Capital said and upgraded the sultanate’s largest lenders, Bank Muscat SAOG and National Bank of Oman. Oman reversed its secular approach to finance last year after seeing a steady trickle of investment …
Egypt gets $1.2 bln commodity loan from Islamic bank
By Patrick Werr / Reuters CAIRO: Egypt has received a $1.2 billion credit facility from the International Islamic Trade Finance Corporation (ITFC) to help it pay for commodity imports, Planning and International Cooperation Minister Faiza Aboul Naga said. The loan, signed on Thursday, carries a 3.75 percent interest rate and will be available immediately. It will …
INTERVIEW: Islamic banks need mergers to fill Western funding hole
By Anjuli Davies / Reuters LONDON: Small and medium-sized Islamic banks may need to merge if they want to become bigger regional players capable of filling the funding hole left by shrinking Western banks, the head of Islamic finance at Deutsche Bank, told Reuters. “There are mismatch challenges,” Salah Jaidah said on the sidelines of the …