EGBANK Islamic banking services is about banking activities that is consistent with the principles of
Shari’a
Islamic Banking Finance
Auto Murabaha Finance
New Vehicles
Shari'a-Compliant
Key Benefits
Financing of up to 100% of the vehicle value, subject to the Bank's credit assessment
Murabaha amount of up to EGP 5,000,000
Flexible tenor ranging from 6 months up to 84 months
Dedicated programs for payroll, salary, or installment transfer customers
Tailored programs for self-employed and professional clients
Flexible down payment options ranging from 10% up to 60%
Eligibility Criteria
Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank’s terms and conditions
Auto Murabaha Finance
Used-Vehicles
Shari'a-Compliant
Key Benefits
Financing of up to 80% of the vehicle value, subject to the Bank’s credit assessment
Murabaha amount of up to EGP 5,000,000
Flexible tenor ranging from 6 months up to 60 months
Dedicated programs for payroll, salary, or installment transfer customers
Tailored programs for self-employed and professional clients
Flexible down payment options ranging from 10% up to 60%
Eligibility Criteria
Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank’s terms and conditions
This is a Shari’a-compliant product
All financing is subject to the Bank’s prevailing policies and applicable terms and conditions.
Ijarah Club Finance
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
Ijarah Education Tuition Finance
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
Ijarah Travel Finance (Hajj, Umrah & Travel)
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,00,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
Medical Care Finance
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
Home Finishing Finance
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,500,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
Car Maintenance Finance
Shari'a-compliant financing solution
Shari'a-Compliant
Financing amount of up to EGP 1,000,000, with a minimum down payment of 10% of the financing value
Flexible repayment tenor of up to 8 years (96 months), payable in equal monthly installments
Structured in accordance with Shari’a principles
All financing is subject to the Bank’s prevailing terms and conditions
General Documents
EGBANK provides Shari’a-compliant financing programs for individual clients, including salary transfer and self-employed customers, aged between 21 and 65 years at maturity. These programs are structured under Ijarah Al Khadamat to address clients’ financing needs through streamlined and efficient procedures.
Durable Goods Murabaha
Shari'a-compliant financing solution
Shari'a-Compliant
Eligible Financing Products
Murabaha financing designed to support personal needs through the purchase of durable goods
Murabaha amount of up to EGP 250,000
Flexible tenor ranging from 6 months up to 60 months
Dedicated programs for salaried customers
Down payment starting from 10% for salaried clients and 20% for self-employed and professional clients
Eligibility Criteria
Minimum age: 21 years
Maximum age: 60 years, which may extend up to 65 years at maturity, subject to the Bank's terms and conditions
This is a Shari'a-compliant product
All financing is subject to the Bank's prevailing policies and applicable terms and conditions.
Secured Islamic Finance
Secured Murabaha / Ijarah Financing Program Against Islamic Certificate (Diamond CD)
Shari'a-Compliant
EGBANK offers a Shari’a-compliant secured Murabaha / Ijarah financing program designed for clients holding an EGBANK Islamic Certificate (Diamond CD). This program enables eligible customers to obtain secured Islamic financing facilities linked to their existing certificate.
Eligible Financing Products
Auto Murabaha
New and Used vehicles
Goods Murabaha
appliances, furniture, electronics
Ijarah Al Khadamat
clubs, education, travel
Key Benefits
Financing of up to 90% of the value of the Islamic Certificate (Diamond CD)
Financing tenor aligned with the remaining tenor of the certificate
The Islamic Certificate must be issued by EGBANK
Competitive expected profit rates
This is a Shari’a-compliant product
All financing is subject to the Bank’s prevailing policies and applicable terms and conditions.
Islamic Banking Accounts and Deposits
Islamic Saving Account
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Available to individual clients only, including minors, in accordance with the Bank’s policies
24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
Variable profit rate calculated and distributed on a quarterly basis under the Shari’a concept of Mudarabah
Minimum Balance Requirement: EGP 5,000 or USD 500, or the equivalent in other foreign currencies for foreign currency accounts
Aman Sukuk
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Certificate tenor of 3 years
Available to individual clients only, including minors, in accordance with the Bank’s policies
Early redemption is not permitted before 6 months from the issuance date
Profit calculation starts from the next client day following the client request
Variable profit rate calculated based on the actual results of business activities under the Shari’a concept of Mudarabah, payable on a monthly or quarterly basis
Minimum subscription amount of EGP 1,000 and its multiples
3 YearsFrom 7 months up to 1 yearEGP5%
3 Years2nd YearEGP4%
3 Years3rd YearEGP3%
Islamic Diamond Certificate in EGP
Shari'a-Compliant
Available to individual clients only, including minors, in accordance with the Bank’s policies
Competitive expected profit rates of up to 17%, subject to prevailing conditions
Certificate tenor of 3 years
Profit distribution on a monthly basis
Profit amounts may be withdrawn through ATMs 24/7
Minimum subscription amount of EGP 10,000
Eligibility to obtain Shari’a-compliant financing facilities secured against the certificate of up to 90% of its value
Early redemption is not permitted before 6 months from the issuance date
Structured in full compliance with the principles of Islamic Shari’a
All certificates are subject to the Bank’s prevailing terms and conditions
Redemption PeriodFrom the seventh month and up to one yearDeducted Percentage7%
Redemption PeriodDuring the second yearDeducted Percentage6%
Redemption PeriodDuring the third yearDeducted Percentage5%
Current Accounts
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Available to individual clients, including minors, and companies in accordance with the Bank’s policies
Non-profit-bearing current account
24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
Chequebook issuance available, subject to the Bank’s applicable terms and conditions
Minimum balance requirement: EGP 5,000 for EGP accounts, and USD 200 or its equivalent for foreign currency accounts
All accounts are subject to the Bank’s prevailing policies and applicable terms and conditions.
Investment Accounts
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Available to individual clients, including minors, and companies in accordance with the Bank’s policies
24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
Chequebook issuance available, subject to the Bank’s applicable terms and conditions
Variable profit rate calculated and distributed on a quarterly basis under the Shari’a concept of Mudarabah
Minimum balance requirement: EGP 5,000 for EGP accounts, and USD 200 or its equivalent for foreign currency accounts
All accounts are subject to the Bank’s prevailing policies and applicable terms and conditions.
ESTITHMAR – Tiers – Account
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Available to individual clients, including minors, and companies in accordance with the Bank’s policies
24/7 access to accounts through EGBANK ATMs and the 123 ATM network locally and internationally
Chequebook issuance available, subject to the Bank’s applicable terms and conditions
The profit is variable and calculated based on the actual results of business under the Islamic term of (Mudarabah)
Profit calculated on the daily closing balance and distributed on a monthly basis
Minimum balance requirement to calculate profit : EGP 50,000
Sukuk Time Deposits
Shari'a-Compliant
Structured in full compliance with the principles of Islamic Shari’a
Flexible tenors of 1, 3, 6, 9, or 12 months
Available to individual clients, including minors, and companies in accordance with the Bank’s policies
Profit calculation starts from the first working day of the calendar month following the deposit date
Variable profit rate calculated based on the actual results of business activities under the Shari’a concept of Mudarabah
Minimum deposit amount: EGP 5,000 for EGP-denominated deposits, and 500 in other foreign companies
In case of partial or full early redemption, 2% of the last distributed profit rate will be deducted in accordance with the Bank’s policies.
Shari’a Supervisory Committee
The Fatwa and Shari’a Supervisory Committee is an independent committee within Egyptian Gulf Bank, comprising qualified Shari’a scholars and specialists in Islamic financial and banking transactions. The Committee’s mandate is to direct, oversee, and supervise Islamic banking activities and products to ensure full compliance with the principles of Islamic Shari’a.
Committee Members
Dr. Abbas Shouman
Head of the Shari’a Committee
Former Undersecretary of Al-Azhar and Member of the Council of Senior Scholars
Dr. Mohamed Nabil Ghanayem
Member
Professor of Islamic Shari'a, Faculty of Dar Al Uloom, Cairo University
Dr. Ahmed Fahmy Abou Al Komsan
Member
Professor of Finance and Investment and Dean of Mahalla Higher Institute of Administration