Société Arabe Internationale de Banque (SAIB) is a financial institution that has been operating in Egypt since 1976. As the first joint Arab Bank in Egypt, SAIB has played a crucial role in the country’s financial sector. The bank offers conventional and Shariah-compliant banking services and several mutual funds.
SAIB’s issued and paid-up capital has increased significantly, reaching US$ 4 billion in 2024. As of March 2024, the bank had 42 branches and employed over 1,783 people. SAIB’s commitment to abiding by the provisions of Egypt’s investment laws has made it a trusted institution in the country’s banking sector.
With its extensive experience and expertise, SAIB has become a leading financial institution in Egypt. Its dedication to providing top-quality financial services to its customers has gained it a reputation as a reliable and trustworthy bank. As Egypt’s financial sector grows, SAIB is poised to play an even more significant role in the country’s economy.
History and Overview
Founding and Evolution
Société Arabe Internationale de Banque (SAIB) was established on March 21, 1976, as the first joint Arab Bank operating in Egypt. The bank was created to comply with the provisions of Investment Law 43 of 1974, which was later amended by Investment Laws 230/1989 and 8/1997.
SAIB’s issued and paid-up capital increased from US$4 million in 1976 to US$500 million in 2024. The bank has grown steadily over the years and currently has 42 branches across Egypt, employing over 1,783 people.
Role in the Egyptian Economy
SAIB is a significant player in the Egyptian economy, financing projects in all sectors, including industry, real estate, commerce, and agriculture. The bank also offers conventional and Shariah-compliant banking services and several mutual funds, including the Saib Fund 2, El Rabeh Fund, Youmy Fund, and the Sanibel Islamic Fund.
SAIB’s contribution to the Egyptian economy has been significant, and the bank continues to play a crucial role in the country’s economic development. The bank’s commitment to providing innovative financial solutions and exceptional customer service has earned it a reputation as a trustworthy and reputable financial institution in Egypt.
In conclusion, SAIB is a leading joint Arab Bank in Egypt that has played a significant role in the country’s economic development since its inception in 1976. The bank’s dedication to innovation and customer service has enabled it to grow and expand its operations, making it a vital player in the Egyptian economy.
Financial Products and Services
Retail Banking Products
Société Arabe Internationale de Banque (SAIB) offers a range of retail banking products that cater to individual customers’ needs. The bank has several types of loans, including personal, auto, and mortgages, with competitive interest rates and flexible repayment terms. SAIB’s deposit products, such as current accounts, savings accounts, and time deposits, offer attractive interest rates and convenient features. The bank also provides saving certificates, a safe and sound way to invest money and earn returns.
Corporate Credit Facilities
SAIB provides its customers with various corporate credit facilities, including term loans, working capital, and project finance. The bank’s experienced professionals work closely with corporate clients to understand their financing needs and provide customized solutions. SAIB’s corporate credit facilities aim to help businesses achieve growth objectives and expand their operations.
Islamic Banking Offerings
SAIB offers Shariah-compliant banking products and services to its customers by Islamic law. The bank’s Islamic banking offerings include a range of deposit products, such as current accounts, savings accounts, and investment accounts, based on the principles of profit and loss sharing. SAIB also provides Islamic financing solutions, such as Murabaha, Ijarah, and Musharaka, which are structured in accordance with Islamic law.
SAIB’s Islamic banking products and services aim to serve the needs of customers who prefer Shariah-compliant banking solutions. The bank’s experienced team of professionals is well-versed in Islamic finance and works closely with customers to give customized solutions that meet their unique requirements.
Overall, Société Arabe Internationale de Banque (SAIB) offers various financial products and services that serve the needs of individual and corporate customers. The bank’s retail banking products, corporate credit facilities, and Islamic banking offer customers various options. SAIB’s experienced team of professionals interact with customers to understand their needs and provide specific solutions that meet their unique requirements.
Investment and Shareholding
SAIB Fund 2 and Sanabel Islamic Fund
SAIB offers its clients a range of investment products, including mutual funds. One of the mutual funds offered by SAIB is the SAIB Fund 2, a balanced fund that invests in equities and fixed-income securities. The fund aims to offer investors with long-term capital appreciation and regular income. Another mutual fund SAIB offers is the Sanibel Islamic Fund, a Sharia-compliant fund that invests in equities and fixed-income securities. The fund aims to give investors long-term capital appreciation while adhering to Islamic principles.
Stock Performance and Shareholder Information
SAIB is a publicly traded company listed on the Egyptian Stock Exchange. The stock performance of SAIB has been relatively stable over the years, with occasional fluctuations due to market circumistances. As of July 21, 2024, the major shareholder of SAIB is the Arab International Bank, which holds a 50.4% stake in the company. The Arab Contractors Investment Company and Misr Insurance Company also hold significant stakes in SAIB, with 17.3% and 11.3% respectively.
SAIB’s issued and paid-up capital increased from US$4 million at the time of its establishment in 1976 to US$400 million as of March 2024. The authorized capital of SAIB is EGP 5 billion. SAIB has complied with Investment Law 43 of 1974, amended by Investment Laws 230/1989 and 8/1997.
In conclusion, SAIB offers its clients a range of investment products, including mutual funds. Its stock performance has been relatively stable, and its major shareholders are the Arab International Bank, Arab Contractors Investment Company, and Misr Insurance Company. SAIB has been operating in compliance with the Investment Law and has seen significant growth in its issued and paid-up capital over the years.
Strategic Initiatives
Supporting National Projects
Société Arabe Internationale de Banque (Saib) is committed to supporting the growth of the Egyptian economy by financing national projects in various sectors such as economic, industrial, agricultural, and commercial projects. The bank offers long-term credit facilities to these projects, which help to create job opportunities and stimulate economic growth in the country.
Saib has a team of experienced professionals who evaluate the feasibility of national projects and provide customized financing solutions to meet each project’s specific needs. The bank also offers advisory services to its clients to help them navigate the complicated regulatory environment and guarantee compliance with regional laws and regulations.
Expanding Foreign Trade Operations
Egyptian foreign trade is a crucial driver of economic growth, and Saibthe Bank is committed to supporting this growth by expanding its foreign trade operations. To facilitate international trade transactions, the bank offers several trade finance products and services, such as letters of credit, guarantees, and documentary collections.
Saib has a strong network of correspondent banks and strategic partnerships with leading international banks, which enables the bank to provide its clients with efficient and cost-effective trade finance solutions. Additionally, the bank provides advisory services to help its clients mitigate the risks associated with international trade and guarantee compliance with international trade regulations.
In conclusion, SAIB is committed to supporting the growth of the Egyptian economy by financing national projects and expanding its foreign trade operations. The bank offers its clients customized financing solutions and advisory services to help them achieve their business objectives. With its experienced team of professionals and a strong network of correspondent banks, Saib is well-positioned to support the growth of the Egyptian economy.
Corporate Governance
Leadership and Management
Société Arabe Internationale de Banque (saib) has a well-established leadership and management structure. The Chairman of the Board of Directors oversees the bank’s operations and ensures that it adheres to its strategic objectives. The Managing Director is responsible for the day-to-day management of the bank’s operations and implementing the strategies set by the board.
The bank’s management team comprises experienced professionals with a wealth of knowledge in the banking industry. They are accountable for the efficient and effective management of the bank’s resources, which includes managing risks, guaranteeing compliance with regulations, and maintaining a high level of customer service.
Regulatory Compliance and Ethics
SAIB is committed to conducting its operations transparently and ethically. The bank has a Compliance Department that is responsible for making sure it complies with all relevant laws and regulations. The department works closely with other departments to identify and mitigate risks, implement policies and procedures, and provide training to employees.
The bank’s Code of Ethics sets out the standards of conduct that all employees will adhere to. It covers conflicts of interest, confidentiality, anti-bribery, and corruption. The bank has a zero-tolerance policy towards unethical behavior and has established mechanisms to detect and report such behavior.
SAIB’s commitment to regulatory compliance and ethics is reflected in its relationships with its stakeholders. The bank works closely with regulators, industry bodies, and other stakeholders to ensure that it is operating in accordance with best practices and standards.
Subsidiaries
SAIB has subsidiaries operating in various economic sectors, including real estate, industry, and commerce. The bank’s subsidiaries are subject to the same corporate governance and regulatory compliance standards as the bank itself.
The bank’s subsidiaries are managed by experienced professionals responsible for their day-to-day operations. They operate by the bank’s strategic objectives and are subject to the same policies and procedures as the bank.
SAIB is firmly committed to corporate governance, regulatory compliance, and ethics. The bank’s leadership and management team are experienced professionals dedicated to ensuring that the bank operates according to best practices and standards. The bank’s subsidiaries are subject to the same corporate governance and regulatory compliance standards as the bank itself.
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Frequently Asked Questions
What career opportunities are currently available at SAIB Bank Egypt?
SAIB Bank Egypt offers a range of career opportunities for people seeking employment in the banking industry. Interested candidates can visit the bank’s official website or job portals to view job openings and submit their applications. The bank aims at providing equal employment opportunities to all qualified candidates regardless of gender, race, or religion.
How can I locate the nearest SAIB Bank branch in Egypt?
SAIB Bank has a wide network of branches across Egypt. Customers can easily find the nearest branch by visiting the bank’s official website or using the mobile banking application. The bank’s customer service representatives are also available to assist customers in locating the nearest branch.
What is the best way to contact SAIB Bank Egypt for customer service?
SAIB Bank Egypt provides various channels through which to contact the bank’s customer service department. Customers can contact the bank through its official website, social media pages, or the customer service hotline. The bank’s customer service representatives can assist customers with their queries and concerns.
What banking products are offered by SAIB Bank in Egypt?
SAIB Bank Egypt offers a range of banking products and services to fulfill its customers’ financial needs. Specifically, the bank provides several types of accounts, loans, credit cards, and investment products. Moreover, customers can visit the bank’s official website or their nearest branch to learn more about the banking products and services available.
Does SAIB Bank Egypt provide Islamic banking services?
Yes, SAIB Bank Egypt offers Islamic banking services that comply with Shariah principles. The bank provides various Shariah-compliant products and services, including savings accounts, investment accounts, and financing solutions. Additionally, customers can visit the bank’s official website or their nearest branch to learn more about these Islamic banking services.
How many branches does SAIB Bank have across Egypt?
As of March 2024, SAIB Bank Egypt had 42 branches across the country. These branches are strategically located to provide easy access to customers in different regions. Additionally, customers can visit the bank’s official website or use the mobile banking application to find the nearest branch.
