Bank for Development and Agricultural Credit establishes 25 Islamic banking branches

Dr. Mohsen El-Batran, Chairman of Principal Bank for Development and Agricultural Credit, said that the Bank will establish 25 Islamic banking branches, in response to the demands of farmers and Members of agricultural and irrigation committee in Lower House of Parliament (People’s Assembly).

Members of agricultural and irrigation committee were invited to participate in laying down the system of Islamic Banking to attract the savings of farmers.

Principal Bank for Development and Agricultural Credit and Social Fund for Development allocated EGP 450 million for Veal Project which witnessed a high turnout last month from farmers and breeders, as participation rate reached more than 50% in one month.