The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Baraka Bank – Egypt to raise its capital. The bank's the board of directors decided to increase its authorised capital to 10 billion Egyptian pounds from 2 billion pounds In addition, the issued and paid-up capital will also be raised to 2.97 billion pounds from 1.85 billion pounds through the issuance of 159.63 bonus shares at a nominal value of 7 pounds apiece, totalling 1.11 billion pounds. The 0.6-for-one bonus issue will be funded from the divisible profits shown in the financial statements for 2020, amounting to 1.42 billion pounds.
