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Faisal Islamic Bank of Egypt

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Faisal Islamic Bank of Egypt
Company typeJoint-stock company
IndustryBanking
FoundedJuly 5, 1979 (1979-07-05)
Headquarters
Cairo
,
Egypt
ProductsIslamic banking
Websitewww.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 they provided animator/musician Richard Williams with funding for his passion project The Thief and the Cobbler (1978–79).

See also

References

  1. ^ a b c "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.


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