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Islamic Services And Activities:

Banque Misr provides all banking services which are provided by other commercial banks, through through utilizing the most modern communications equipment in Egypt and abroad, having 33 branches in various governorates of Egypt and a network of correspondents worldwide.

 

 

·        Banque Misr's Islamic Credit Card (Kenana)

·        Car Murabaha from Banque Misr

·        The Investment Current Account

·        The Investment Saving Book

·        Certificates for Islamic Transactions

·        The Investment Activities  

·        The General Banking Services

·        Banque Misr's 4th Investment Fund – as Pursuant to the Shariah Rules

 

The minimum amount required to open an account is 5000 Egyptian pounds, US Dollars, Pounds Sterling, Euro, 2000 Saudi riyals or 5000 French Francs.

These Halal profits are distributed to investing clients according to the will of God.

The return on investment is paid every 6 months onJune 30 and December 31 of each year, in the same currency of the account.

The investment account has the same advantages of current accounts on demand and a chequebook can be provided to the client.

Depositing and withdrawal can be easily made at any time.

Correspondence can be kept with the bank upon request of clients who wish to receive them from BANQUE MISR offices, to ensure complete privacy of their correspondence.

 

The Investment Saving Book

 

·        The return on investment is paid every 6 months on June 30 and December 31 of each year, in the same currency of the savings book and is exempted from taxes.

·        Two draws are made by computer for investment saving accounts and investment current accounts in local and foreign currency every 3 months (on March 31, June 30, September 30 and December 31) with a minimum balance of EGP 100 or equivalent in other currencies.

 

 

·         The First Draw

 

The first draw is made on saving accounts and investment deposits in local currency on four prizes with total 500.000 Egyptian pounds. The drawing on four prizes is done as follows:

 

Prize Value

Rank

EGP 200.000

Prize No.1

EGP 150.000

Prize No. 2

EGP 100.000

Prize No. 3

EGP 50.000

Prize No. 4

EGP 500.000

TOTAL

 

The minimum amount required to enter the draw is one hundred Egyptian pounds.

 

·          The Second Draw

 

The second draw is made on saving accounts and investment deposits in foreign currency on three prizes with total fifty five thousand dollars. The drawing on three prizes is done as follows:

 

Prize Value

Rank

USD35.000

Prize No.1

USD15.000

Prize No. 2

USD5.000

Prize No. 3

USD55.000

TOTAL

 

The minimum amount required to enter the draw is one hundred dollars, seventy five euros, fifty pounds sterling, or equivalent to one hundred dollars in other currencies.

Two draws are made on saving accounts and investment deposits in local currency to share in Haij (pilgrimage trip) and Umrah expense. The two draws are done as follows:

·         The First Draw

The first draw is made on 15th day of the Hijri month of Ragab (on saving accounts at the end of the Calendar month that comes before the Hijri month of Ragab). The draw is on five prices with total 25.000 Egyptian pounds, to contribute to the Umrah expenses in the Holy Month of Ramadan.

    

·          The Second Draw

 

The second draw is made on 15th day of the Hijri month of Shawwal (on saving accounts at the end of the Calendar month that comes before the Hijri month of Shawwal). The draw is on five prices with total 150.000 Egyptian pounds, to contribute to the expenses of Haij (pilgrimage trip).

Note: In case the draw day coincides with an official holiday, the procedures shall be made instead by the first working day following the holiday.  

 

Note: In case the draw day coincides with an official holiday, the procedures shall be made instead by the first working day following the holiday.  

 

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.

 

The Monthly-return Certificate - The Quarterly-return Certificate

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

 

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

 

Investment Activities: 
  
Branches of Banque Misr for Islamic Transactions are financing all types of economic activities according to the rules of Islamic Shariah, which were approved by the majority of Islamic scholars, such as the following:

 

Financing through Partnership:


Partnership means that two persons invest money for trading and divide the profit between them. They may not have equal shares in the amount of money, in trading or in profits. The money of one partner may be more than the other, one partner may be in charge of trading activities and the two partners may divide the profits equally or according to quota agreed between them. In case of loss, the amount to be borne by each partner shall be in the ratio of the capital of each one. 

 

Murabaha

 

Is a form of sale where the cost of the goods to be sold as well as the profit on the sale is known to both parties, the purchase and selling price and the profit margin must be clearly stated at the time of the sale agreement.

 

Payment of the Murabaha price may be in spot, in installments or in lump sum after a certain period of time.

 

General banking services in Islamic branches

Islamic banking services

General banking services in Islamic branches

§  Issuing letters of credit of all kinds

§  Issuing letters of guarantee of all kinds

§  The collection of cheques and bills and other commercial papers in local and foreign currency

§  Issuing banking payment acceptable cheques for those specified by the customers

§  Equity services of all kinds (selling, purchasing, and coupons collections)

§  Saving secretariats and lockers rental for customers

§  Conducting foreign exchange transactions, internal and external transfers and sale and collection of traveler's cheques in foreign currency.

§  Purchase and sale of foreign currencies at free baking market prices for foreign exchange in Egyptian pounds

§  The representation of banks, similar financial institutions, and business correspondents

§  Issuing all kinds of Visa, MasterCard cards for Islamic branches’ customers

BM investment fund IV – according to Islamic Sharia

 

IPO prospectus

IPO prospectus summary

Quarterly financial statements

For more information please contact 19888

Summary of IPO prospectus for BM investment fund IV in accordance with the provision of Islamic Sharia

 

1-   Fund Name

 

BM Investment Fund IV – “in accordance with the provision of Islamic Sharia”

 

2-   Investment Manager

 

HC Securities & Investment

 

3-   Shari’a Supervisory Board

 

The fund has a permanent Shari’a supervisory board monitoring its performance on a regular basis

 

4-    The purpose of the fund

 

Money investment and distributing the biggest investment return with preserving the capital and reducing the risks through the diversification of its investments all in accordance with the provision of Islamic Sharia.

5- Investment Policy:

Investing in Sharia compliant activities:

·         The strategy implies investing in activities compliant with the percepts of Islamic investment in partnership with companies.

·         The investors anticipate growth and obtain their dividends as well as the acquisition of capital gains at the end of the investment period, which is determined by the investment manager.

·         Investing in Islamic investment funds

·         Islamic investment compliant shares of Arab and Islamic companies listed in foreign stock mark Islamic investment standards with a total percentage do not more than 50% of the Fund's assets.

·         Investing in Islamic compliant investment schemes, whether Banque Misr or other Islamic banks.

6- Fund Size: EGP 200 million to be increased

7- Fund Types: Open with the possibility of distributing periodic return / Weekly buying and recovery

8- Nominal Value: EGP 100

9- Minimum IPO size: 10 certificates

10- Maximum IPO size:  Not Available

11- Purchasing/Selling: weekly/ first working banking day from each week at 12 PM

12- Dealing Outlets: All Banque Misr outlets

13- Announcing Certificate Prices: Al Ahram Newspaper to publish certificate prices first working banking day from each week  

14- Commission: IPO/ Purchase / Refund / Cashing intrest Commissions are not available

15- Account Statement: submitted to client quarterly with no extra fees

16- Dividend Distribution:  an eligible semiannual to be distributed in case of profits achievement

17- Bank Administrative Fees:  0.5% (five per thousand) per annum calculated on the basis of the net asset value of the fund to be paid at the end of every three months.

18- Investment Manager Fees:

Fund management Fees: Amounting to 0.45% (four and a half per thousand) per annum calculated on the basis of the net asset value of the fund to be paid at the end of every three months.

Performance Fees: 7.5% (seven and a half percent) of the net profits of the fund's annual profits on more than 10% (ten per cent) per year or on an average return Banque Misr for Islamic transactions for a period of three months plus 3% (three percent), and so, whichever is higher, and so after the adoption of the auditors and not to these fees are calculated in the case of depreciation of the document for a nominal value of EGP 100.

Certificate Recoverable Amount:

1

Certificate Price Upon IPO

EGP 100

2

Price on 29/10/2006

EGP 100.25

3

Price on 05/11/2006

EGP 100.45

4

Price on 12/11/2006

EGP 100.10

5

Price on 19/11/2006

EGP 100.45

6

Price on 26/11/2006

EGP 100.57

7

Price on 3/12/2006

EGP 100.31