Faisal Islamic Bank to buy Banque Misr’s stake in Egyptian Takaful Ins.
Tuesday, 10 01 2019, Category: Islamic Insurance, Country: Egypt
Faisal Islamic Bank of Egypt aims to buy 8 percent of the Egyptian Takaful Insurance Co. (Property) from Banque Misr, a senior official said on Thursday.
Faisal Islamic Bank currently owns 24.75 percent stake in the Egyptian Takaful Insurance, the firm’s vice-chairman El-Sayed Bayoumi further told Amwal Al Ghad.
The acquisition deal will see raising Faisal Bank’s stake in the Egyptian Takaful Insurance to 32.75 percent, Bayoumi said.
Source: Amwal Al Ghad