About eleven banks have given initial approvals to contribute up to 150% to the Islamic syndicated loan amounting to EGP 1.07 billion which is being arranged for the Egyptian Steel Group, owned by the businessman Ahmed Abu Hashima.
Ahmed (...)
Banque Misr has secured an approval from the Central Bank of Egypt (CBE) to offer Ijara Muntaheya Bettamleek (Islamic lease-to-own) services by the end of 2012.
Ahmed El-Dorghamy, head of Islamic finance department at Banque Misr, said CBE has also (...)
Khalil El Bawab, Director of Fixed Income at EFG Hermes Asset Management, said the Egyptian market needs more sound bases in order to be attractive for foreign investors who wish to invest in sharia-compliant instruments.
The Islamic finance (...)
Shehab Marzban, member of the board of directors of the Egyptian Islamic Finance Association, said the value of Islamic investment funds in the world rose from US$ 30 billion in 2005 to US$ 60 billion at the end of the first half of 2012.
The USA (...)
Shehab Marzban, member of the board of directors of the Egyptian Islamic Finance Association, said he will establish a company for financial services by next October.
The main aim of the company is being the mediator between investors and creators (...)