EGYPT: Al Baraka Capital launched a Shariah compliant investment fund, in cooperation with crowdfunding fintech Invia, to channel financing to SMEs. Initially directing EGP200 million (US$4.13 million) to 20 SMEs on revenue-sharing basis, the fund operated by Al Baraka Bank’s Islamic financial services arm is expected to double its value to EGP400 million (US$8.26 million) by end of 2024 and EGP1 billion (US$20.66 million) a year later – together with plans to on establish a venture capital company.
Restricted Access
Login to continue reading (existing subscriber)
Subscribe NOW and get:
- Gain unlimited access through all key operating platforms
- Full access to all listed Islamic funds & fund profiles
- Unlimited access to all Islamic fund managers
- Access to all exclusive articles, reports, podcasts & videos
- Complimentary access to all IFN Investor Forums
