ADIB-Egypt arranges EGP 5.8B Sharia-compliant loan for Giza Systems

Updated 1/11/2024 8:15:00 AM
ADIB-Egypt arranges EGP 5.8B Sharia-compliant loan for Giza Systems

Arab Finance: Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) is arranging a sharia-compliant loan worth EGP 5.8 billion for Egypt-based digital transformation enabler and systems integrator Giza Systems, Asharq Business reported, citing unnamed sources familiar with the matter.

The sources added that the loan includes a dollar tranche of $90 million.

Giza system will use the amount to settle outstanding loans and restructure its financing to an Islamic system.

Established in 1974, Giza Systems operates in nine countries, including Egypt, Saudi Arabia, the UAE, Qatar, Kenya, Tanzania, Nigeria, Uganda, and the US.

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