Egyptian Islamic Finance Association revealed that the volume of Islamic banking in the Egyptian market increased to EGP 544bn in March 2023, an increase of EGP 110bn, with a growth rate of 25%, compared to March 2022.

According to a recent report by the association, Islamic banking accounts for about 5% of the size of the Egyptian banking sector as a whole.

The Egyptian Islamic finance Association clarified that Faisal Islamic Bank of Egypt occupies the first position in the Islamic banking market in Egypt, with a turnover amounting to EGP 169.2bn.