UAE targets AED2.56t in Islamic banking assets by ’31
The UAE’s newly approved Islamic Finance and Halal Strategy is expected to significantly accelerate the growth of…
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Islamic banking
Syria’s c. bank targets inflation, currency stabilisation
Syria's central bank said on Tuesday it aims to increase its independence in monetary policy decisions, shifting…
Egypt’s Islamic banking hits EGP312bln in September 2019
The volume of Islamic banking in Egypt registered 312 billion Egyptian pounds by the end of March 2019, said head…
Islamic banking captures 5.5% of Egypt market share in H1
The volume of Islamic banking in Egypt registered 318 billion Egyptian pounds in the first half of 2019 capturing…
Islamic banking in Egypt grows 15.8% y-o-y in Q1
The total size of the Islamic banking sector in Egypt grew 15.8 percent to around 301 billion Egyptian pounds…
Islamic banking garners 6% of Egypt market share in 2018
The volume of Islamic banking in Egypt registered 300 billion Egyptian pounds by the end of 2018 capturing 6…
Islamic banking garners EGP 220bln by Sep. 2018
The volume of Islamic banking in Egypt registered 220 billion Egyptian pounds by the end of September 2018 in…
Islamic banking garners 5.2% of Egypt market share – EIFA
The Islamic banking in Egypt captures a 5.2 percent market share of the country’s banking sector business, said…
Islamic banking is dominant in Saudi Arabia; says Fitch
Fitch Ratings said Tuesday the Islamic finance is a mature and developed industry in Saudi Arabia, representing…
Kuwait’s Ahli Bank won’t practice Islamic banking in Egypt
Kuwait's Al Ahli Bank (ABK) is not seeking to obtain an Islamic banking licence for its Egyptian unit, the Kuwaiti…
Tycoon Saleh Kamel Chairs Egypt-Saudi Business Council
Saudi tycoon Saleh Kamel has become the new head of the Saudi side of the Saudi-Egyptian Business Council (SEBC),…
Al Hilal Islamic Banking And Bank Nizwa Ink Pact
Bank Nizwa , Oman's first Islamic bank and Al Hilal Islamic Banking Services from ahlibank have entered into a…
Islamic Banking Association Launches Index of Bourse’s Sharia-Compliant Shares
Islamic banking experts have called on the Central Bank of Egypt to tailor its policies regarding Islamic banking…
Faisal Islamic Bank- Egypt’s Consolidated Profit Hit EGP 177.7 Mln At End-Q1
Faisal Islamic Bank of Egypt’s profit reached EGP 177.7 at the end of last March, compared to EGP 115 million at…
Ali Gomaa Says Islamic Economy Depends On Free Markets
Ali Gomaa, former Grand Mufti of Egypt, said Islam prohibits monopoly and its economy is based on free markets,…
Faisal Islamic Bank Of Egypt’s Finances Hit EGP 3.3 Bln At End-March
The value of Musharaka, Murabaha and Mudaraba offered by Faisal Islamic Bank of Egypt surged 3.5% (EGP…
Islamic Development Bank Increases Its Capital To $ 150 Billion
The Board of Governors of Islamic Development Bank Group approved at the conclusion of its annual meetings in the…
Islamic Banking Leaders To Attend 4th Annual World Islamic Banking Conference In Singapore
More than 480 leading industry players, thought leaders and key regulators in the international and regional…
Global Islamic Banking Valued At US$1.5 Trillion At End-March: El-Beltagy
The Chairman of Egyptian Islamic Finance Association, Dr. Mohamed El-Beltagy, has revealed that the volume of…
Alex Bank Develops 12 Branches, Asks For Islamic Banking License
Alex Bank Intesa Sanpaolo targets to upgrade 12 branches out of its 200 ones in 2013. The bank has not asked the…
Islamic Banking Hit EGP 102 Bln In Egypt At End-Jan. 2013
Mohamed El-Beltagy, head of the Egyptian Islamic Finance Association, stated that the volume of Islamic banking in…
Abu Dhabi Islamic Bank Egypt Achieves EGP 10.2 Mln Net Profit In Q1
Abu Dhabi Islamic Bank – Egypt achieved profitability in the first quarter of 2013 for the first time in its…
CBE Suspends Granting New Islamic Banking Licenses In 2013
The Central Bank of Egypt (CBE) will not grant Islamic banking licenses in the meantime amid the low growth rates…
NBE’s Islamic Retail Finances Hit EGP 150 Mln At End-March
The National Bank of Egypt’s (NBE) Islamic retail finances reached about EGP 150 million at the end of Q1 of 2013.…
NBE Plans To Provide SMEs With EGP 50 Mln Islamic Finances
The National Bank of Egypt (NBE) targets to provide small and medium-sized enterprises (SMEs) with Islamic finances…
Al Hilal Islamic Banking Board Meetsa
An expanded meeting for al Hilal Islamic Banking Sharia Supervisory Board was held recently at ahlibank's head…
Shura Council Discusses Amending Banking Law No. 88/2003
The Finance and Economic Affairs Committee at the Shura Council will hold a closed meeting on Sunday to discuss the…
Commercial Banks’ Islamic Banking Assets In GCC Hit EGP US$445 Bln At End-2012
According to estimates by Ernst & Young’s Global Islamic Banking Center, Islamic banking assets with commercial…
Agricultural Credit Bank To Offer EGP 100 Mln Islamic Micro-Enterprise Finances
The total value of Murabaha finances offered by the Principal Bank for Development and Agricultural Credit (PBDAC)…
NBE Raises Islamic Finances To EGP 420 Mln
The National Bank of Egypt (NBE) has raised the value of Islamic finances by EGP 220 million to reach EGP 420…
Suez Canal Bank’s Islamic Banking Transactions Hit EGP 950 Mln At End-2012
Suez Canal Bank’s Islamic banking transactions reached EGP 950 million at the end of 2012, registering an annual…
NBE Offers Al-Watania Poultry EGP 200 Mln Islamic Finance
The National Bank of Egypt (NBE) has approved to grant Al-Watania Poultry a Murabaha worth EGP 200 million. Sources…
Agricultural Credit Bank Launches Islamic Retail Banking Products
The Principal Bank for Development and Agricultural Credit targets to expand in Sharia-compliant retail banking…
Al Baraka Egypt Eyes 20% Profit Increase In 2013
Al Baraka Bank of Egypt targets to raise profits by 20% this year, after achieving profit of EGP 135.7 million at…
Faisal Bank’s Finances Fell To EGP 3.21 Bln At End-2012
Faisal Islamic Bank of Egypt’s funds and balances held at the Central Bank of Egypt (CBE) fell 13.3% (EGP 451.6…
Islamic Banking To Witness Robust Growth This Year
Islamic banking services in the Sultanate will witness robust growth during 2013, says Ahmed al Musalmi, Deputy…
Islamic Banking Accounts For 8.5% Of Transactions In Egypt: El-Beltagy
Mohamed El-Beltagy, head of the Egyptian Islamic Finance Association, stated that volume of Islamic banking…
Ashmawy Calls On Implementing A Method Of Calculating Return On Sukuk
Before bringing into effect the sukuk law, the Egyptian policy makers shall consider a number of issues such as how…
Lawsuit Filed To Ban Banks From Offering Loans With Interest
The former member of parliament Hamdy El Fakharany and the lawyer Wael Hamdy has filed a lawsuit in the State…
Egyptian Jurist Says Sukuk Can Bring Egypt US$ 200 Bln
The Egyptian Jurist Hussein Hamed Hassan affirmed that Egypt is one of the strongest countries in the region in…