IslamicFinance.de

The Egyptian Financial Regulatory Authority (FRA) approved a request from Faisal Islamic Bank of Egypt to publish the disclosure form to proceed with its capital increase procedures. The disclosure form included the board of directors’ approval to raise the company’s issued capital by $66.02 million to $506.2 million from $440.19 million. The capital increase will be carried out by issuing 66.03 million shares at a nominal value of $1 or its equivalent in the Egyptian pound per share through a 0.149-for-one bonus issue.