The value of islamic deposits has reached 233 billion Egyptian pounds($13 billion)by the end of June 2018, capturing 6.5 of the market share, said head of the Egyptian Islamic Finance Association Mohamed El-Beltagy.
The Islamic deposits has (...)
Export Development Bank of Egypt is seeking to increase its retail portfolio to one billion Egyptian pounds ($55.8 million) by the end of fiscal year 2018/2019, according to its Chairman Mervat Sultan.
Sultan told Amwal Al Al Ghad that the retail (...)
Egypt aims at raising the economic growth rates to reach 7-8 percent by 2022, Planning Minister Hala el-Saeed said Wednesday.
She added that the axes of the economic reform program include institutional reforms which resulted in the issuance of a (...)
Foreign investments in Egypt's governmental treasury bonds and bills have risen to $4 billion after the country floated its currency on Nov. 3rd, said Deputy finance minister Ahmed Kouchouk on Tuesday.
Before pound floatation, foreign investments in (...)
The Egyptian parliament is expected to approved the long-awaited new investment law between one week and ten days, said head of the economic committee Aly El-Gohary said Tuesday.
The new law will focus on the diversification of incentives and (...)
AlexBank, a member of Italian bank Intesa Sanpaolo, says small and medium-sized financing portfolio had recorded 3 billion Egyptian pounds ($166.1 million) by the end of 2016.
Dante Campioni, AlexBank's managing director, further said in a press (...)
Egyptian investment bank FEP Capital expects to complete initial share offering of business tycoon Ahmed Abou Hashima's Egyptian Media Company in 2018, FEP chief executive Omar El Maghawry said Tuesday.
FEP Capital, part of regional First Equity (...)
Egypt plans to launch international bonds ranging between $2 billion and $2.5 billion within the first half of next January, the country's finance minister said Monday.
"The launch was supposed to be within this November, but the U.S. elections and (...)
Egypt-based investment bank Acumen Holding has won the management of the Housing and Development Bank's (HDB) newest real estate mutual fund, chairperson Rana Adawi announced Monday.
"We expect the fund will be launched within the first quarter of (...)
Egypt's second biggest bank, state-owned Banque Misr has provided around $825 million to cover import payments since the central bank devalued pound on November 3rd, vice chairman said Monday.
"We opened letters of credit worth around $825 million (...)
Egypt's investment bank Beltone Financial has completed the acquisition of micro finance enterprise Reefy and is looking into more upcoming deals, its vice chairman Magued Shawky announced Monday.
Beltone is studying carrying out a number of new (...)
Foreign investments in the Egyptian treasury bills have reached $500 million since the country's central bank devalued the local currency on November 3rd, finance minister said Monday.
Egypt is targeting foreign investments ranging between $8-10 (...)
Egypt's market regulator, the Egyptian Financial Supervisory Authority (EFSA) is planning to form the first federation to encompass all the entities working in the country's mortgage finance market, chairman Sherif Samy said on Wednesday.
He added (...)
Barclays intends to boost its corporate portfolio in Egypt to 5 billion Egyptian pounds (US$655.25 million) by the end of 2015, chief of staff Shady Kamal said.
The bank's corporate portfolio reached 3 billion pounds by the end of 2014.
The banking (...)
About eleven banks have given initial approvals to contribute up to 150% to the Islamic syndicated loan amounting to EGP 1.07 billion which is being arranged for the Egyptian Steel Group, owned by the businessman Ahmed Abu Hashima.
Ahmed (...)
Banque Misr has secured an approval from the Central Bank of Egypt (CBE) to offer Ijara Muntaheya Bettamleek (Islamic lease-to-own) services by the end of 2012.
Ahmed El-Dorghamy, head of Islamic finance department at Banque Misr, said CBE has also (...)
Khalil El Bawab, Director of Fixed Income at EFG Hermes Asset Management, said the Egyptian market needs more sound bases in order to be attractive for foreign investors who wish to invest in sharia-compliant instruments.
The Islamic finance (...)
Shehab Marzban, member of the board of directors of the Egyptian Islamic Finance Association, said the value of Islamic investment funds in the world rose from US$ 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 (...)