NBE’s Islamic Units Have Loan-To-Deposit Ratio Of 30%

The National Bank of Egypt’s (NBE) Islamic deposits reached EGP 700 million, while Islamic finances registered EGP 200 million, meaning that the loan-to-deposit ratio reached 30% at the end of last August.

Sources said NBE will soon offer a mid-term Islamic finance of EGP 200 million to a poultry company to finance the purchasing of raw materials, equipments and machines.

NBE targets to increase the volume of sharia-compliant finances in order to raise the loan-to-deposit ratio to 80% with the help of the increasing demand for Islamic banking products.

NBE has two Islamic banking units in Cairo; one in Dokki which acquires 80% of Islamic deposits and another in Azhar which acquires 20% of the Islamic deposits.