Faisal Bank: Musharaka, Mudaraba Transactions Registered EGP 2.8 Bln In H1

Faisal Islamic Bank of Egypt said the value of Musharaka (Islamic joint venture) and Mudaraba (Islamic venture capital funding) transactions registered EGP 2.831 billion at the end of the first half of 2012, down from EGP 2.957 billion at the end of 2011, with an increase of EGP 126.3 million.

The value of savings instruments and certificates rose by EGP 2.1 billion, registering EGP 34.299 billion at the end of June 2012, up from EGP 32.123 billion at the end of 2011.

The bank’s balances held by the Central Bank of Egypt registered EGP 2.790 billion, down from EGP 3.394 billion. The bank’s balanced held by other banks registered EGP 3.820 billion at the end of June 2012, down from EGP 5.177 billion at the end of 2011.

The bank’s pre-tax profit reached EGP 521.3 million at the end of June 2012, down from EGP 418 million at the end of June 2011, with an increase of EGP 103.2 million.