Al Baraka Bank Egypt gets $30M from ICD to fund green projects
Updated 5/16/2023 9:06:00 AM
Arab Finance: Al Baraka Bank Egypt (SAUD) has signed a five-year financing agreement worth $30 million with the Islamic Corporation for the Development of the Private Sector (ICD) to fund green projects, the lender stated on May 15th.
Th signing occurred during the annual meetings of the Islamic Development Bank (IsDB), which was held in Saudi Arabia.
The funding is sharia-compliant, with the possibility of increasing the amount in the future.
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.
Related News
