Latest news with #FaisalIslamicBank
Zawya
18-07-2025
- Business
- Zawya
Egypt: Faisal Islamic Bank's standalone profits drop 78.9% YoY in H1 2025
Arab Finance: Faisal Islamic Bank's standalone net profits after tax fell 78.9% year on year (YoY) in the first half (H1) of 2025 to EGP 1.382 billion, compared to EGP 6.552 billion, according to the bank's financial indicators released on July 17th. Standalone revenues also plunged 19.2% YoY to EGP 13.197 billion from EGP 16.341 billion in H1 2024. Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services per Islamic Sharia principles through its head office and 27 branches across the country. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
10-07-2025
- Business
- Yahoo
Faisal Islamic Bank of Egypt deploys Intellect's digital platform
Faisal Islamic Bank of Egypt (FIBE), the nation's first Islamic commercial bank, has deployed the Digital Engagement Platform (DEP) from Intellect Global Consumer Banking (iGCB), a unit of Intellect Design Arena. This initiative is said to be a 'significant milestone' in FIBE's efforts to modernise its digital infrastructure and improve Shariah-compliant banking services for both retail and corporate clients, stated the tech provider. The DEP enables the bank to transition from outdated systems to a streamlined, customer-centric digital framework. This is said to align with the bank's mission to attain 'sustainable growth' and enhance its regional and international presence. FIBEGovernor Abd Elhamid Mohamed Abu Musa said: 'At Faisal Islamic Bank, we aim to serve with integrity, innovation, and a customer-first mindset. 'Partnering with Intellect has empowered us to deliver a truly modern, Shariah-compliant digital experience.' Built on a modular architecture that incorporates Events, Microservices, APIs, Cloud, Headless design, and embedded AI, the platform supports 'seamless' customer interactions throughout the banking journey ranging from onboarding to ongoing engagement. Key features include an omnichannel experience that allows customers to switch between mobile and internet banking without losing task continuity. The platform also offers fully digital processes, such as onboarding completed in just three minutes. Additionally, it enhances customer interactions through chatbots and social banking, providing comprehensive self-service options for inquiries, transfers, bill payments, card services, and accessing statements. Designed with an Arabic-first, human-centred approach, it prioritises inclusivity and accessibility for diverse customer segments, according to the tech vendor. While initially focused on the consumer segment, the platform is equipped to extend its capabilities to small and medium enterprises (SMEs) and corporate banking, enabling comprehensive digitisation of FIBE's customer lifecycle from individual clients to institutional accounts. Intellect Global Consumer Banking CEO Rajesh Saxena said: 'With DEP, FIBE is poised to outpace legacy constraints, deliver personalised, real-time engagement, and set a new standard for Islamic retail banking. 'This is a partnership built on shared vision and long-term impact, exemplifying how strategic vision, agility, and technology convergence can transform banking from the ground up.' Last month, First Abu Dhabi Bank (FAB) implemented iGCB's debt management solution, which is part of the Lending platform. "Faisal Islamic Bank of Egypt deploys Intellect's digital platform" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
09-07-2025
- Business
- Finextra
Faisal Islamic Bank selects Intellect eMach platform for digital transformation
The Faisal Islamic Bank eMACH implementation represents a daring development in Egypt's digital financial revolution. 0 The bank wants to modernise customer experiences, optimise operations, and propel the next-level Faisal Bank AI transformation across its retail banking services by implementing the cutting-edge eMACH digital engagement platform. As Egypt's first Islamic commercial bank and a leader in Islamic banking, FIBE continues to pioneer innovation in Shariah-compliant banking services across both retail and corporate sectors. The deployment of DEP signals a bold shift from legacy infrastructure to a unified, customer-first digital banking experience rooted in FIB's vision: to be the best bank in providing Islamic services and products to our customers and correspondents, while achieving sustainable growth and reinforcing the Bank's position regionally and internationally. DEP is built on a composable architecture consisting of Events, Microservices, API, Cloud, Headless architecture and embedded AI. The platform creates business impact by enabling seamless, contextual engagement across the entire customer lifecycle from acquisition and engagement to retention, through both self-service and assisted channels. Recognising the need for a future-ready platform, FIBE partnered with Intellect to accelerate its digital ambitions and deliver: ● Omnichannel experience across mobile & internet banking with the ability to pause & resume tasks between devices ● Completely digital processes, including onboarding in 3 minutes, thereby reducing the overall carbon footprint for both the bank and customers while promoting sustainable practices. ● Enhanced engagement via chatbots and social banking ● Rich self-service capabilities for inquiries, transfers, bill payments, card services, and statements ● Arabic-first, human-centered UX, ensuring inclusivity and adoption across all segments ● Agile rollout & modular architecture, enabling future-ready expansion across offerings like lifestyle services ● Operational efficiency through digitization of high-volume interactions and backend workflows While the initial focus is on the consumer segment, the platform is designed to scale across SME and corporate segments, enabling end-to-end digitization of FIB's full customer lifecycle from individuals to institutions. Abd Elhamid Mohamed Abu Musa, Faisal Islamic Bank of Egypt Governor said, 'At Faisal Islamic Bank, we aim to serve with integrity, innovation, and a customer-first mindset. Partnering with Intellect has empowered us to deliver a truly modern, Shariah-compliant digital experience. This transformation strengthens our commitment to our customers, aligns with our sustainability goals, and reaffirms our position as the leader in Islamic banking in Egypt.' Rajesh Saxena, CEO, Intellect Consumer Banking, Intellect Design Arena said, 'Digital transformation today transcends mere modernisation. It demands a visionary leap to integrate cultural nuance, customer empathy, and technological agility into every interaction. Partnering with Faisal Islamic Bank, we've created an experience that's truly customer-centric. With DEP, FIBE is poised to outpace legacy constraints, deliver personalized, real-time engagement, and set a new standard for Islamic retail banking. This is a partnership built on shared vision and long-term impact, exemplifying how strategic vision, agility, and technology convergence can transform banking from the ground up.' By implementating the Faisal Islamic Bank eMACH platform, the organisation reaffirms its dedication to AI-driven innovation, endorsing a more comprehensive Faisal Bank AI transformation vision that reimagines digital interaction in the area.
Zawya
23-05-2025
- Business
- Zawya
Faisal Islamic Bank of Egypt's business volume up 9.2% YoY end-April
Arab Finance: Faisal Islamic Bank of Egypt (FAIT) reported a 9.2% year-on-year (YoY) increase in total business volume at the end of April 2025, hitting EGP 245.440 billion, compared to EGP 224.663 billion, the bank stated. Total assets grew by 9.9% YoY to EGP 242.771 billion last April, versus EGP 220.823 billion in April 2024. Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance with Islamic Sharia principles through its head office and branches located across the country. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
