IslamicFinance.de

The Islamic Development Bank plans to invest US$3 billion into the Egyptian market over the next five years as it sees promise and many long-term investment opportunities there. The funds would come in the form of financing and investment. Over the past few years the bank has made investments in Egypt worth US$3 billion, of which US$1 billion came during the last year alone. The Islamic Bank increased its investments in Egypt after the 25 January revolution, at a time when several international institutions had doubts about investing in the nation. The bank’s main objective is to support development.

The past year and a half were marked by economic stagnation which has affected numerous businesses. However, some Egyptian Islamic investment banks have a vision on how to act in the new emerging order. For example, Ridge Islamic Capital, has found a niche in the finance sector and intends to capitalize on it. The portfolio of the investment bank includes Sharia-compliant investment banking, asset management and wealth management services. Their target market is, according to experts, primarily for Islamic finance.

Read more on: http://www.egyptindependent.com/news/economic-flux-islamic-banking-and-f...

The International Islamic Trade Finance Corporation, which is affiliated with the Islamic Development Bank, is giving Egypt a loan worth US$1.2 billion in total. The loan aims to provide basic and strategic commodities. The second part of this loan, US$330 million, is being prepared by several local and regional banks. It is intended to be used for importing wheat and food commodities.

Read more on: http://www.egyptindependent.com/news/islamic-development-bank-lend-egypt...