Banque Misr's Certificates for Islamic Transaction

 

  • The funds of such certificates are invested in Islamic projects in accordance with the Islamic Shariah, with Banque Misr acting as an authorized agent of investors in determination of investment fields and return on investment rate.
  • The client may obtain an interest free loan with his certificates as collateral.
  • Certificates can be bought for others, whether they are adults or under-age.
  • The clients of Current and Investment Accounts may keep their certificates in Banque Misr without any charges.
  • The value of the certificate as well as the return on investment may be withdrawn from the Islamic Transactions branches or regular branches from which the certificates were bought.
  • Certificates can be bought from the branches and correspondents of Banque Misr abroad.
  • Each 500 unit of EGP or US$ is given a number, so that the return on investments of the client can be preserved in case of partial withdrawal. This applies to certificates include those with monthly return on investment.
  • Certificates may be purchased by individual establishments, companies, authorities, organizations, etc. Non-Egyptians can also buy these certificates.

 

1.      The Quarterly-return Certificate

  • The certificates are nominal with 3-year terms, and renewable.
  • The certificate is issued in denominations starting at a figure of 500 Egyptian pounds or US dollars in addition to its increments.
  • The return is paid every 3 months, in the same currency of the certificate. The return is defined as pursuant to the business results shown by the financial positions of the Islamic Transactions branches.
  • The client can recover the value of certificate or obtain a loan as collateral

 

2.      The Monthly-return Certificate

  • The certificates are nominal with 5-year terms, and renewable.
  • The certificate is issued in denominations starting at a figure of 1000 Egyptian pounds or US dollars in addition to its increments.  
  • The return is paid every month as pursuant to the calculation of posting profit or loss (God Forbid). In case of losses, the return is paid every 6 months on June 30, December 31 in accordance with the business results released by the financial positions of the Islamic Transactions branches.
  • The date of issuing the certificate is the end of the purchasing month.
  • The client can recover the value of certificate after six months from the date of issuance.

 

Names of Banque Misr's Correspondents in the Arab World to market Certificates for Islamic Transaction:

  •  The Arab African International Bank (AAIB) – UAE – Abu Dhabi – Dubai
  • Alfardan Exchange – Qatar

 

The Main HQ for Central Location of the Islamic Transactions:

  •  68 Al-Azhar Street. Telephone No. 5913974 – 5930163  Fax No. 5892254