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The volume of Islamic banking in Egypt registered 312 billion Egyptian pounds by the end of March 2019, said head of the Egyptian Islamic Finance Association Mohamed El-Beltagy.
He told Amwal Al Ghad that the Islamic banking is capturing 6 percent of the market share.
He also noted that the Islamic finances portfolio recorded 230 billion Egyptian pounds with increase of 6 percent.
Egypt has now Shariah-compliant operators including three full-fledged Islamic banks; Faisal Islamic Bank of Egypt, Al Baraka Bank-Egypt, and Abu Dhabi Islamic Bank.
An Islamic bank is a bank that complies with the principles of Shari’a in all financing, banking and investment transactions
