Faisal Islamic Bank of Egypt (FIBE) is the first Egyptian Islamic and commercial bank and is considered to be an Islamic Banking Pioneer .
The Bank has officially started its operations on 5th July 1979. However, the beginning was more than five years before that date, when His Royal Highness Prince Mohammed Al-Faisal Aal-Saoud - Chairman of the Board of Directors - presented the idea to a number of Egyptian figures and officials. The idea was widely welcomed and accepted by the general public and Government officials. Faisal bank was the first in the Egyptian banking sector operating in accordance with the Islamic Sharia to serve as a model for Islamic banking all over the world.
The bank is engaged in Commercial, Retail, Corporate and Islamic banking activities. Faisal Bank's footprint now spreads over more than 220+ cities. As of August 2022, the bank has a network of 639 branches of which 638 are Islamic banking branches.
Nowadays, His Royal Highness Prince Amr Mohammed Al-Faisal Aal-Saoud is the Chairman of the Board of Directors as a successor to the late His Royal Highness Prince Mohammed Al-Faisal Aal Saoud.
Abd El Hamid Abo Moussa serves as governor and board member of the bank, as well as non-executive chairman of the International Company for Leasing (Incolease). He is currently leading Faisal Bank in the race towards achieving unprecedented growth rates. He managed to bring the bank to the forefront of Islamic banks in Egypt. Faisal Bank owns 43.12% of the total assets of Islamic banks amounting to 118.71 billion pounds at the end of March 2021 while the bank’s capital represents 53.5% of the total capital of Islamic banks.
Faisal Bank also achieved net profits of 537.56 million pounds during the first quarter of 2021, achieving a growth of 15% year on year, thus accounting for 47.19% of the profits of Islamic banks.
The bank's financing and investment portfolio increased to $7 billion as of April 30, 2021, an increase of 15.9% compared to the same period last year.
These indicators were achieved based on the distinguished products that the bank offers to its customers through 37 branches spread across the country, and about 410 ATMs, in addition to the Faisal Online banking service, which provides the bank’s products and services to a large segment of customers without the need to go to the branches.
The Bank is keen on providing necessary funding with its different terms (short, medium and long terms) for all economic activities, giving particular attention to production sectors of vital importance to the national economy.
