Faisal Islamic Bank of Egypt
 | |
| Type | Joint-stock company |
|---|---|
| EGX: FAIT | |
| ISIN | EGS60011C012 |
| Industry | Banking |
| Founded | July 5, 1979 |
| Headquarters | , |
Number of locations | 43 (2025[1]) |
| Key people | Abdel Hamid Abu Mousa (Chairman) |
| Products | Islamic banking |
| Total assets | USD 5,4 billion (2025)[1] |
Number of employees | 1700 (2023) |
| Website | www |
Faisal Islamic Bank of Egypt SAE is a major Egyptian "shariah-compliant" financial institution, with a market capitalization of $402 million as of September 2016.[2][3] It is a joint-stock company and was incorporated in 1977 but started operating in 1979.[2] Bloomberg News reports it provides "various" commercial "banking products and services in Egypt and internationally", such as "current and investment accounts, and joint accounts; saving certificates; and mutual funds".[4]
According to the bank, it was "the first Egyptian Islamic and Commercial bank".[2] Another source describes it as "part of the banking empire" established by Saudi Prince Mohammed al-Faisal and associated with Saudi Arabia's conservative political and religious influence in Egypt.[5]
Among the bank's first activities was providing animator/musician Richard Williams with funding for his passion project The Thief and the Cobbler (1978–79).
As of 2025, it has nearly 2,5 million current accounts.[1]
See also
References
- 1 2 3 "Egypt's 50 Most Valuable Companies 2026". Forbes.
- 1 2 3 "Faisal Islamic Bank Of Egypt S.A.E." emis.com. Archived from the original on 23 September 2016. Retrieved 16 September 2016.
- ↑ "Faisal Islamic Bank of Egypt SAE (FAITA.CA)". reuters.com. Archived from the original on 17 September 2016. Retrieved 16 September 2016.
- ↑ "Company Overview of Faisal Islamic Bank of Egypt (S.A.E.)". bloomberg.com. September 16, 2016. Archived from the original on 17 September 2016. Retrieved 16 September 2016.
- ↑ "Context of '1976: Faisal Islamic Bank of Egypt Founded, Funds Political Growth of Islamist Movement'". History Commons. Archived from the original on 17 September 2016. Retrieved 16 September 2016.