Egypt farm bank launching retail Islamic services
Egypt's main agricultural bank is launching Islamic retail services this month to meet increasing demand in rural areas, a bank official told Reuters.
"We are launching sharia-compliant retail banking this month with a portfolio of 50 million pounds ($7.5 million) and can raise that to 100 million" next June based on demand, said Abdel Rahman Al-Kafrawi, head of Islamic transactions at Principal Bank for Development and Agricultural Credit (PBDAC).