‘Arzaq’ seeks 1bn pounds credit from six banks
Azzaka Microfinance Company, a subsidiary of Abu Dhabi Islamic Bank – Egypt, is in negotiations with six banks to secure financing facilities worth one billion Egyptian pounds to enhance its funding capacity and expand its loan portfolio. The company aims to gradually increase its capital from 75 million to 200 million Egyptian pounds, with a target of reaching 300 million pounds by the end of the year. Additionally, it plans to expand its branch network from 45 to 75 branches by the end of 2026, and then to 125-150 branches in 2027. The company focuses on financing sectors such as trade, industry, services, and agriculture, operating according to an Islamic Sharia-compliant model, with a growing emphasis on digital solutions and financial technology.
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