Arab Investment Bank Eyes 20% Increase In Retail Banking Portfolio

Arab Investment Bank plans to increase its retail banking portfolio by 20% in the second half of the current fiscal year. The Bank’s retail banking portfolio registered EGP 110 million at the end of last May.

Sources told Amwal Al Ghad that the Bank will launch retail banking products including car murabaha (Islamic sale contract).

Sources added that the Bank waits the approval of the central bank over its sharia-compliant savings accounts with maturities of 3, 5 and 10 years.