The Egyptian Islamic Finance Association (EIFA) revealed that the volume of Islamic banking in the Egyptian market increased to EGP 544 billion in March 2023, with a growth rate of 25%, compared to March 2022, when it reached EGP 434 billion.
According to the EIFA, the volume of deposits compatible with the provisions of Islamic law represent about 6% of the total volume of deposits in the Egyptian banking sector as a whole.
Also, the volume of financing compatible with the provisions of Islamic law represents 5% of the total volume of financing in the Egyptian banking sector.