BEST ISLAMIC FINANCIAL INSTITUTIONS IN EGYPT (GLOBAL FINANCE 2008) : Faisal Islamic Bank of Egypt

Faisal Islamic Bank of Egypt provides commercial banking services to individuals and businesses in Egypt. It offers various client’s accounts and savings accounts, including current accounts, free investment accounts in Egyptian pounds and foreign currencies, two year investment accounts in Egyptian pounds, joint accounts, investment accounts in the name of minors, investment accounts for special purposes, and three year saving certificates of variable return.

The bank also provides various mudaraba operations to the Central Bank of Egypt, which include the investments for funding the purchase of strategic commodities and production requirements of the country, such as murabaha in commodities and metals, foreign trade operations, leasing operations, real-estate operations, Islamic investment funds, and Islamic murabaha operations. In addition, it offers trade services for institutions, including issuing and collecting drafts, documentary credits, and services of the investment trustees department.

Further, the bank provides automated teller machine cards, voice banking, and online banking services. It provides its services through its head office and 19 branches. Faisal Islamic Bank of Egypt was founded in 1979 and is headquartered in Cairo, Egypt.