IslamicFinance.de

The CEO of the Abu Dhabi Islamic Bank Nevine Loutfy was found murdered at her home in Cairo. An investigation and forensic team arrived at the murder scene shortly after the incident. With over three decades of banking experience, Loutfy had a diverse background and had worked across the corporate, SME and retail sectors. She had extensive international experience gained in the US, Europe and emerging markets. Nevine Loutfy was the first ever female head of an Islamic bank.

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.

The National Bank for Development (NBD) together with Abu Dhabi Islamic Bank (ADIB) revealed its 2011 financial results, which showed positive indicators despite the circumstances the Egyptian economy faced during the past year.
Nevine Loutfy, Managing Director and CEO of NBD, stated that NBD's achievements during 2011 confirmed the strong and superior performance of the bank's employees, which was shown in the significant growth in both assets and liabilities, in addition to increasing the bank's market share and reducing the provisions gap.