| Type | Joint-stock company |
|---|---|
| Industry | Banking |
| Founded | July 5, 1979 |
| Headquarters | , |
| Products | Islamic banking |
| Website | www |
Faisal Islamic Bank of Egypt SAE is a "shariah-compliant" financial institution based in Egypt and headquartered in Cairo, with a market capitalization of $402 million as of September 2016. [1] [2] It is a joint-stock company and was incorporated in 1977 but started operating in 1979. [1] Bloomberg News reports it provides "various" commercial "banking products and services in Egypt and internationally", such as "current and investment accounts, and joint accounts; saving certificates; and mutual funds". [3]
According to the bank it was "the first Egyptian Islamic and Commercial bank". [1] Another source describes it as "part of the banking empire" established by Saudi Prince Mohammed al-Faisal, and associated with Saudi Arabia's conservative political and religious influence in Egypt. [4]
Among the bank's first activities was they provided animator/musician Richard Williams with funding for his passion project The Thief and the Cobbler (1978–79).
Islamic banking, Islamic finance, or Sharia-compliant finance is banking or financing activity that complies with Sharia and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include Mudarabah, Wadiah (safekeeping), Musharaka, Murabahah (cost-plus), and Ijara (leasing).
Faisal bin Abdulaziz Al Saud was a Saudi Arabian statesman and diplomat who was King of Saudi Arabia from 2 November 1964 until his assassination in 1975. Prior to his ascension, he served as Crown Prince of Saudi Arabia from 9 November 1953 to 2 November 1964, and he was briefly regent to his half-brother King Saud in 1964. He was prime minister from 1954 to 1960 and from 1962 to 1975. Faisal was the third son of King Abdulaziz, the founder of modern Saudi Arabia.
HSBC Holdings plc, originally The Hongkong and Shanghai Banking Corporation, and known locally as HongkongBank in Hong Kong, Canada and Australia during the 1980s-90s, is a British universal bank and financial services group headquartered in London, England, with business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA).
The Islamic Development Bank is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.
Saud bin Abdulaziz Al Saud was King of Saudi Arabia from 9 November 1953 until his abdication on 2 November 1964. During his reign, he served as Prime Minister of Saudi Arabia from 1953 to 1954 and from 1960 to 1962. Prior to his accession, Saud was the country's crown prince from 11 May 1933 to 9 November 1953. He was the second son of King Abdulaziz, known as Ibn Saud, the founder of Saudi Arabia.
Saudi Awwal Bank (SAB) is a Riyadh-based Saudi joint stock company in which global banking group HSBC owns a minority stake. The bank traces its origins to the British Bank of the Middle East which was acquired by HSBC in 1959. In response to restrictions on foreign ownership of banks in Saudi Arabia, Saudi Arab British Bank (SABB) was created in 1978 to manage HSBC branches and assets in the country.
The Al Rajhi Bank is a Saudi Arabian bank and the world's largest Islamic bank by capital based on 2015 data.
Banque Misr is an Egyptian bank co-founded by industrialist Joseph Aslan Cattaui Pasha and economist Talaat Harb Pasha in 1920. The government of the United Arab Republic nationalized the bank in 1960. The bank has branch offices in all of Egypt's governorates, and currency exchange and work permit offices for foreign workers in Egypt.
"123" is a shared cash network for the banking community in Egypt. It is provided by Egyptian Banks Co. for Technological Advancement (EBC).
Following the Iranian Revolution, Iran's banking system was transformed to be run on an Islamic interest-free basis. As of 2010 there were seven large government-run commercial banks. As of March 2014, Iran's banking assets made up over a third of the estimated total of Islamic banking assets globally. They totaled 17,344 trillion rials, or US$523 billion at the free market exchange rate, using central bank data, according to Reuters.
Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings ultimate parent of bank is KSA Holdings and Ithmaar Bank, based in Karachi, Pakistan. It is named after Mohammed bin Faisal Al Saud.
Simon Cooper is a British banker. Since 2018 he has been the chief executive officer of the Corporate, Commercial and Institutional Banking division of Standard Chartered, its largest global business with approximately USD10 billion in underlying operating income. He also serves as CEO of the bank’s Europe and Americas region and is chairman of the group’s global Diversity and Inclusion Council.
Mohammed bin Faisal Al Saud was a Saudi prince and businessman. He was a son of King Faisal and was one of the pioneers in the establishment of Islamic banking and Islamic insurance.
Banque Saudi Fransi (BSF) is a Saudi Joint Stock company which was established in 1977.
The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is a corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. Although it began in Malaysia, the scandal's global scope implicated institutions and individuals in politics, banking, and entertainment, and led to criminal investigations in a number of nations. The 1MDB scandal has been described as "one of the world's greatest financial scandals" and declared by the United States Department of Justice as the "largest kleptocracy case to date" in 2016.
Profit and Loss Sharing refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah. These mechanisms comply with the religious prohibition on interest on loans that most Muslims subscribe to. Mudarabah (مضاربة) refers to "trustee finance" or passive partnership contract, while Musharakah refers to equity participation contract. Other sources include sukuk and direct equity investment as types of PLS.
Faisal Islamic Bank of Sudan is an Islamic bank in Sudan. The bank describes itself as having "Islamic orientation" and "Sudanese features". The Indian site Siasat Daily describes it as Sudan’s "largest lender", and one that as of 2016 "favours low-risk, short-term loans and quick returns".
Banking in Sudan covers the history, development and structure of banking in the Sudan. From the inheritance of the banking system from the Anglo-Egyptian Sudan to the establishment of the Sudan central bank in 1959 and development of Islamic banking in the mid 1970s.
| International | |
|---|---|
| National | |
  | This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. |
 | This Islam-related article is a stub. You can help Wikipedia by expanding it. |
