Faisal Islamic Bank of Egypt explained
Faisal Islamic Bank of Egypt SAE is a "shariah-compliant" financial institution based in Egypt and headquartered in Cairo, with a market capitalization of $402 million as of September 2016.[1] [2] It is a joint-stock company and was incorporated in 1977 but started operating in 1979.[1] Bloomberg News reports it provides "various" commercial "banking products and services in Egypt and internationally", such as "current and investment accounts, and joint accounts; saving certificates; and mutual funds".[3]
According to the bank it was "the first Egyptian Islamic and Commercial bank".[1] Another source describes it as "part of the banking empire" established by Saudi Prince Mohammed al-Faisal, and associated with Saudi Arabia's conservative political and religious influence in Egypt.[4]
Among the bank's first activities was they provided animator/musician Richard Williams with funding for his passion project The Thief and the Cobbler (1978–79).
See also
Notes and References
- Web site: Faisal Islamic Bank Of Egypt S.A.E.. emis.com. 16 September 2016. 23 September 2016. https://web.archive.org/web/20160923000857/https://www.emis.com/php/company-profile/EG/Faisal_Islamic_Bank_Of_Egypt_SAE__%D8%A8%D9%86%D9%83_%D9%81%D9%8A%D8%B5%D9%84_%D8%A7%D9%84%D8%A5%D8%B3%D9%84%D8%A7%D9%85%D9%89_%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%89__en_2030622.html. live.
- Web site: Faisal Islamic Bank of Egypt SAE (FAITA.CA). reuters.com. 16 September 2016. 17 September 2016. https://web.archive.org/web/20160917080155/http://www.reuters.com/finance/stocks/overview?symbol=FAITA.CA. live.
- Web site: Company Overview of Faisal Islamic Bank of Egypt (S.A.E.). bloomberg.com. 16 September 2016. September 16, 2016. 17 September 2016. https://web.archive.org/web/20160917091001/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=11311810. live.
- Web site: Context of '1976: Faisal Islamic Bank of Egypt Founded, Funds Political Growth of Islamist Movement'. History Commons. 16 September 2016. 17 September 2016. https://web.archive.org/web/20160917085810/http://www.historycommons.org/context.jsp?item=western_support_for_islamic_militancy_202707. live.
