Barclays Weighs Islamic Finance Products in Egypt to Boost Sales
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Barclays Bank Egypt SAE is considering entering the Islamic banking market in the country and lending more to small and medium businesses as it seeks ways to generate new revenue, a senior bank official said.
The bank is weighing how to replicate its South African Islamic products in Egypt, where such finance makes as much as 4 percent to 5 percent of total banking assets in the country, Sherif Elbehery, director for strategy, planning, marketing and corporate affairs at the Bank in Egypt, said in an interview.