IslamicFinance.de

Islamic banking assets in Egypt are expected to reach around EGP 128 billion (USD 18.4 billion) in 2014, realizing an average growth of 10% to 12%. Islamic banking assets were valued at EGP 114 billion in 2013, up 11% from the previous year. Islamic financing extended by banks rose 6% to EGP 76.4 billion in 2013 while deposits grew by 13% to EGP 103 billion in the same period. The Islamic banking sector accounts for 7% of total banking assets in Egypt. Meanwhile, investors from Saudi Arabia are reportedly evaluating various investment opportunities in Egypt, including in the industrial and agricultural sectors, but are waiting for the political and security situation to stabilize before making a move.