Islamic Finance

16 Sep 2020

Faisal Islamic Bank records EGP 112.751bn in business volume during August

The Faisal Islamic Bank of Egypt has reported a 9.3% increase in its volume of business to EGP 112.751bn in August 2020, compared to EGP 103.149bn in August 2019.

According to a statement the bank sent to the"...

02 Sep 2020

Egypt borrows $2bn ‘to finance state budget’

Egypt has signed its first $2 billion conventional and Islamic financing loan to support the local economy, the Egyptian Ministry of Finance announced yesterday.

In an official statement, the ministry said that"...

01 Sep 2020

Egypt signs $2bn conventional, Islamic facility to finance budget deficit

Egypt’s Ministry of Finance has signed the first conventional and Islamic financing facility, worth $2bn, to finance state’s budget deficit and support local economy.

The country’s House of Representatives"...

24 Aug 2020

Faisal Islamic Bank reports 12.1% asset growth to EGP 108.701bn in July

The Faisal Islamic Bank of Egypt has recorded a 12.1% increase in its total assets to about EGP 108.701bn at the end of July 2020, compared to EGP 96.973bn in July 2019.

In a statement to the Egyptian Exchange"...

17 Aug 2020

ADIB posts 19% profit decline

ArabFinance: Abu Dhabi Islamic Bank- Egypt (ADIB) reported a 19% Year on Year decline in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

Consolidated"...

05 Aug 2020

MFAI Jersey Limited raises stake in Faisal Islamic Bank

ArabFinance: Faisal Islamic Bank of Egypt (FAITA) stated that MFAI Jersey Limited raised its stake in the bank capital from 6.25% to 6.9%, according to the company's August 4th statement filed to the Egyptian Exchange.

MFAI"...

28 Jul 2020

Assiut Islamic National H1 profit increases

ArabFinance: Assiut Islamic National Ytrade and Development reported a slight Year on Year increase in its net profit in the first half (H1) of 2020, according to the company's July 27th financial statements filed to the Egyptian Exchange.

Net"...

07 Jul 2020

Cooperation bet. Egypt, Islamic Development Bank hits $12.8B

CAIRO – 6 July 2020: Cooperation between Egypt and the Islamic Development Bank Group recorded $12.8 billion through 338 projects, Minister of Trade and Industry Nevine Gamea said Monday.

This"...

02 Mar 2020

Faisal Islamic Bank posts 1.17B personal loans by 2019 end

Faisal Islamic Bank of Egypt posts personal loans of 1.17 billion Egyptian billion pounds by the end of 2019 compared to 1.168 billion pounds by the end of 2018.

The Islamic lender’s vehicle loans recorded"...