Islamic banking in Egypt valued at $25.8 bn
Published 24 Nov,2021 via Daily News Egypt - The volume of Islamic banking in Egypt increased to EGP 407bn ($25.8 bn) in September 2021, an increase of 14.5% from September 2020.
According to the Egyptian Association for Islamic Finance, Islamic banking currently accounts for about 5% of the Egyptian banking market.
Mohamed El-Beltagy, President of the Egyptian Association for Islamic Finance, said that the volume of Islamic deposits amounted to about EGP 335bn at the end of September 2021, and constitutes 7% of the size of the Egyptian banking market, with an increase of EGP 35.1bn and a growth rate of 11.7% over September 2020.
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Daily News Egypt