Al Baraka Bank Egypt Leads the Way in Providing Educational Content on Islamic Banking Transactions

Al Baraka Bank Egypt has launched a series of educational videos titled “Ask the Bank-Sharia Edition” on its social media platforms, aimed at educating different segments of the public about the principles of banking transactions compliant with Islamic Sharia principles. This initiative is part of the bank’s commitment to its position as a leader in raising awareness about Islamic banking, being the first Islamic bank to focus on educational efforts, thereby remaining a reference for those seeking knowledge in Islamic finance.

The episodes of ” Ask the Bank-Sharia Edition” presented in a simplified conversational format, cover a variety of topics, including Islamic banking transaction structures and their compliance with Islamic Sharia principles, the role of the Sharia Supervisory Board in Islamic banks, as well as issues related to credit cards and banking insurance per Sharia. The episodes also address common questions answered by Dr. Hassanein Ibrahim, Head of Sharia and Sharia Audit Sector at Al Baraka Bank Egypt and a member of the Sharia Supervisory Board, such as the income purification ratios in Islamic banks, the advantages of this type of banking, and all matters related to financing, among others.

Simultaneously with the launch of these educational videos, Al Baraka Bank Egypt won the award for “Best Sharia Investment Banking Services Egypt 2024” from the Global Business & Finance Magazine. This reflects the bank’s ongoing efforts to provide innovative banking solutions that are compliant with Islamic Sharia principles, confirming its leadership in the Islamic banking sector.

In this matter, Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated: “The launch of the educational video series reflects our vision at Al Baraka Bank Egypt to support comprehensive financial literacy and provide added value to the community. As the first Islamic bank to take the lead in this field, we believe that enhancing knowledge about Islamic banking is a necessary step to facilitate financial decision-making. This commitment extends beyond merely offering Sharia-compliant financial products; it encompasses our role as a leading and reliable reference for providing knowledge and clarifying the principles underlying these products.”

Regarding the award for ” Best Sharia Investment Banking Services Egypt 2024,” Mr. Abdel Aziz Samir, Deputy CEO for Consumer Banking, Retail, and Digital Transformation commented: “We are pleased with this recognition, which enhances our bank’s position and confirms our commitment to the highest standards of quality and our ability to meet all customer needs through innovative investment products. We look forward to continuing to provide banking solutions that add real value to all customers and partners of Al Baraka Bank Egypt while striving to strengthen our leading role in the Islamic banking sector.”

It is worth noting the positive impact of these efforts, which has become evident through the enthusiastic audience engagement with the educational video series launched by Al Baraka Bank Egypt on its main page and social media platforms. Viewers have praised the purposeful content that fills the knowledge gap and the easy-to-understand approach to explaining Islamic banking transaction concepts. Additionally, many followers have commented with inquiries about further details on the topics presented, reflecting their interest and desire to learn more.