IslamicFinance.de

Abu Dhabi Islamic Bank PJSC (ADIB)’s Egyptian unit sees demand for Shariah-compliant finance picking up, expecting to complete deals for about 5 billion pounds ($699 million) in the next year. The institution is working to provide syndicated financing for as much as five infrastructure projects in electricity, oil and gas, Nevine Loutfy, the only woman chief executive officer of a Shariah lender in the Middle East, said. ADIB Egypt was one of six lenders, including state-owned Banque Misr SAE that arranged a $110 million Islamic facility for East Delta Electricity Co. in February 2013, the nation’s first Islamic loan, she said. ADIB Egypt expects 2014 to be its second profitable year in a row, Loutfy said.