Faisal Islamic Bank raises $300 million since Egypt pound float

Egypt’s Faisal Islamic Bank has collected around $300 million since the central bank floated the pound currency in November 2016, said executive chairman assistant on Sunday.

“We don’t have any pending requests for letters of credit from traders,” Raafat Mokbel further told Amwal Al Ghad.

Customers’ savings in foreign currencies are currently worth more than $2 billion, Mokbel said.