Faisal Islamic Bank Opens New Subsidiary in Shoubra Misr this Month

Faisal Islamic Bank of Egypt is targeting to inaugurate new subsidiary in Shoubra Misr within the current month, becoming 31 branches.

The bank has recently inaugurated branch in Qena-Upper Egypt and it is working to rebuild and renew a numbers of branches to become most technical banks locally and globally.

The bank opened two branches in South-Alexandia and Giza within 2012 and it activated Financing developed systems include leasing services.

Eng. Ibrahim Mehleb, Egypt’s PM welcomed Mohammed al-Faisal bin Abdul Aziz Al Saud, Chairman of Faisal Islamic Bank and Mr. Abdul Hamid Mohammed Abu Mousa the Governor to review the role which must play by the bank concerning commercial, financial, banking and investment acts in Egypt, as well as taking part in manufacturing, economic development and urban communities projects.

Abdul Aziz Al Saud asserted during his meeting with Mehleb the Depth relations between Egypt and Saudi Arabia, and it has to strengthen cooperation in all fields between the two countries, pointing out that the volume of deposits in the bank increase every year from 7-10%, and that the Bank will participate in the initiative launched by the Central Bank of Egypt which related to Mortgage finance in providing the adequate housing for low-and middle-incomes.