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Faisal Islamic Bank of Egypt is the first Egyptian Islamic and commercial bank. The bank’s services are divided into three categories: finance and investment, banking services, and investment trustee services. Its financing activities in the local market are being conducted through a variety of Sharia-compliant models, including Musharaka, Mudaraba, Murabaha, and Ijara. The bank officially began its operations on July 5th, 1979; however, it had been present in the market for more than five years prior to that date, when the bank's founders met and resolved to establish a bank in Egypt that would operate in accordance with the Islamic Sharia to serve as a model for Islamic banking worldwide.
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