Banque Misr Injects EGP 500 Mln In Retail Banking Portfolio In 2012

Banque Misr plans to inject EGP 500 million in its retail banking portfolio to register EGP 2.750 billion in the current year, compared with EGP 2.25 billion at the end of last April.

Sources told Amwal Al Ghad that the Bank has an ambitious plan to expand in retail banking sector especially in Islamic sharia-compliant products through launching debit and credit products including car murabaha (Islamic finance), sharia-compliant durable goods product and murabaha and musharaka (profit sharing) product for micro-enterprises .

Banque Misr plans to launch Islamic sharia-compliant visa based on murabaha system before the end of the current year, sources added.