In a statement, the AFC stated that the loan’s proceeds will contribute to the country’s economic resilience through financing purchases of petroleum products and agricultural commodities
Sharia-compliant financing was recorded at EGP 466.4 billion in September 2023, 26.5% more than in September 2022, equivalent to 4.1% of the total financing portfolio in the Egyptian banking sector
The Egyptian stock market has been developing the index for a while now, with former EGX head Rami El-Dokani telling media in August that it partnered with Standard & Poor’s (S&P) to facilitate the index’s launch between October and November
According to the EIFA’s latest data, Islamic banking accounts for approximately 5% of the overall Egyptian banking sector
Maait added that the country’s first-ever issuance reflects the global capital market’s confidence in the Egyptian economy
