Barclays Bank Egypt is considering introducing some Islamic banking services in the local market in the near future, capitalizing on its experience in other Arab and European countries.
Sherif al-Beheiry, general director for strategies, planning, marketing and institutional affairs, said during the Euromoney Conference in Cairo that the new services will conform to the criteria set by the Central Bank of Egypt and added that the services and products may be available in 2013.
Beheiry said political instability has not discouraged the bank from focusing on the Egyptian market and it has increased its local branches from 16 to around 50.
Beheiry also spoke of what he described as promising financing opportunities in the fields of petroleum, gas and industry.
Edited translation from Al-Masry Al-Youm