Faisal Islamic Bank of Egypt

Faisal Islamic Bank of Egypt

Company type	Joint-stock company
Industry	Banking
Founded	July 5, 1979 (1979-07-05)
Headquarters	Cairo , Egypt
Products	Islamic banking
Website	www.faisalbank.com.eg

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 providing animator/musician Richard Williams with funding for his passion project The Thief and the Cobbler (1978–79).

See also

• Banks portal

• List of banks in Egypt
• Islamic banking and finance

References

1. "Faisal Islamic Bank Of Egypt S.A.E." emis.com. Archived from the original on 23 September 2016. Retrieved 16 September 2016.
2. "Faisal Islamic Bank of Egypt SAE (FAITA.CA)". reuters.com. Archived from the original on 17 September 2016. Retrieved 16 September 2016.
3. "Company Overview of Faisal Islamic Bank of Egypt (S.A.E.)". bloomberg.com. September 16, 2016. Archived from the original on 17 September 2016. Retrieved 16 September 2016.
4. "Context of '1976: Faisal Islamic Bank of Egypt Founded, Funds Political Growth of Islamist Movement'". History Commons. Archived from the original on 17 September 2016. Retrieved 16 September 2016.