Tagged: Abdel Rahman Al Kafrawi

Egyptian agri bank boosts retail Islamic finance offering

Egyptian agri bank boosts retail Islamic finance offering

<p>Egypt's Principal Bank for Development and Agricultural Credit (PBDAC) is expanding its Islamic finance activities. The bank which has 18 branches offering Islamic finance, plans to open further six branches offering Islamic services in 2013. Furthermore, PBDAC is launching Shari&rsquo;ah-compliant retail banking this month with a portfolio of EGP 50 million ($7.5 million) that can be raised to EGP 100 million next June based on demand, according to Abdel Rahman Al Kafrawi, head of Islamic transactions at PBDAC. The new Islamic services will reportedly cover areas including purchases of durable goods and agricultural equipment, the setting up of clinics and medical laboratories, and the financing of education fees.</p>
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<p><a href="http://www.cpifinancial.net/news/post/18648/egyptian-agri-bank-boosts-retail-islamic-finance-offering" title="http://www.cpifinancial.net/news/post/18648/egyptian-agri-bank-boosts-retail-islamic-finance-offering">http://www.cpifinancial.net/news/post/18648/egyptian-agri-bank-boosts-re…</a></p>
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Egypt farm bank launching retail Islamic services

Egypt farm bank launching retail Islamic services

Egypt’s Principal Bank for Development and Agricultural Credit (PBDAC) is launching sharia-compliant retail banking services this month to meet increasing demand in rural areas. According to Abdel Rahman Al Kafrawi, head of Islamic transactions at PBDA…