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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Al-Baraka Bank Egypt: Funding small enterprises

Posted on 20 August 2012

In a bid to enhance small enterprises, the Social Fund for Development (SFD) and Al-Baraka Bank Egypt have signed a LE200 million deal to finance small enterprises. The financing deal is based on the Islamic Musharaka principle.
Ghada Wali, SFD secretary-general, speaking at a press conference said that the agreement aims at diversifying the fund’s services to include Sharia-compliant products to finance small projects which in turn would help create jobs and boost development………………………………………..Full Article: Source

 
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