Egypt’s best domestic Islamic bank: Banque Misr
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Egypt’s best domestic Islamic bank: Banque Misr

Banque Misr has seen a strong performance in its Shariah-compliant loan book and has been instrumental in several key Islamic finance transactions.

Islamic assets under management at the bank increased to E£53.56 billion ($3.2 billion), driven by growth across several financing segments.

Its Islamic loan portfolio for micro-, small and medium-sized enterprises has also grown substantially, up 22.5% on the previous year.

In a strategic move to increase its market share in the MSME segment, the bank has signed a cooperation protocol with Reefy, a leading provider in the space.

The bank has had a busy year, contributing E£2.4 billion to Islamic syndicated transactions. It acted on several prominent deals, including an E£2.085 billion syndicated loan for Redcon Construction, an Egyptian engineering, construction and infrastructure company, and an E£3 billion facility for Elsewedy Electric, a multinational electrical company.

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