Al Baraka Bank secures $30mln in financing from IsDB’s ICD: Egypt

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Al Baraka Bank Egypt is an Egypt-based commercial bank and part of Al Baraka Banking Group, a Bahraini joint-stock company

Staff Writer, Arab Finance

September 15, 2023

PHOTO
The logo of the Islamic Development Bank Group is seen at the garden of the Bank in Jeddah, Saudi Arabia May 31, 2018. Picture taken May 31, 2018. REUTERS/Reem Baeshen - RC17792B6F10

Al Baraka Bank Egypt (SAUD) has secured $30 million in financing from the Islamic Corporation for the Development of the Private Sector (ICD), affiliated with the Islamic Development Bank (IsDB), the bank disclosed on September 14th.

Al Baraka Bank Egypt is an Egypt-based commercial bank and part of Al Baraka Banking Group, a Bahraini joint-stock company.

The bank is engaged in the provision of retail, corporate, and investment banking solutions, in accordance with the Islamic Sharia principles, through a network of 32 branches located across Egypt.

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