What is in Egypt a Halal home loan without interest (Riba) ?
In Egypt, an Islamic mortgage without interest in 2025 is by definition a halal home financing that complies with the principles of Islamic law (Sharia), which prohibits interest (Riba) and involves the Egyptian Islamic bank purchasing the property and subsequently selling it to the customer at a profit, where the payment is made in installments, thus the bank and the customer share the risk of the investment.
In Egypt, the Islamic mortgage without interest is regulated by the Central Bank of Egypt in Cairo, ensuring compliance with both local financial regulations and Islamic law, offering an ethical alternative for home financing that aligns with religious beliefs.
In Egypt, the halal mortgage with no Riba allows Egyptian homebuyers to finance their property purchases through transparent and fair contracts that eliminate interest, making the process compliant with Islamic principles and more accessible for those seeking Shariah-compliant solutions.
What are in general the eligibility conditions for an Islamic mortgage in Egypt?
Here are the general eligibility conditions for an Islamic mortgage in Egypt, summarized:
- Age – Applicants must usually be 21+ and complete repayment before 60 (salaried) or 65 (self-employed).
- Income – Must show stable income; installments typically capped at 40% of monthly income (total obligations under 50%).
- Down Payment – Usually 10–25% of property value; financing covers the rest.
- Documents – Valid ID, proof of residence, income proof (salary slips/tax returns), bank statements, and property ownership documents.
Why it matters: These rules ensure applicants can repay without hardship while keeping financing transparent and tied to real assets, in line with Sharia principles that forbid interest (riba).
Is there in Egypt a list of Islamic banks and halal alternative lenders providing Islamic mortgages without Riba ?
Here’s a curated list of Islamic banks and Sharia-compliant lenders in Egypt that offer Islamic mortgages (home financing without riba), along with brief descriptions and links to learn more:
Islamic Mortgage Providers in Egypt
1. Faisal Islamic Bank of Egypt
One of Egypt’s oldest and most established Islamic banks, Faisal Islamic Bank offers Sharia-compliant home financing, quite likely following the Murabaha (cost-plus sale) model—a common structure for Islamic mortgages.
2. Al Baraka Bank Egypt
Part of the well-known Al Baraka Group, this bank provides various Islamic home financing options across Egypt, including Murabaha, Ijara (lease-to-own), or Musharaka (diminishing partnership) structures.
3. Abu Dhabi Islamic Bank (ADIB) – Egypt
An extension of ADIB’s international operations, their Egypt branch offers Islamic housing finance solutions such as Murabaha and Ijara, with flexible repayment terms and Sharia oversight.
4. Banque Misr – Islamic Banking Window
As a conventional bank with an Islamic window, Banque Misr facilitates Sharia-compliant home financing by partnering with property developers and offering tailored solutions under Islamic principles.
5. Suez Canal Bank – Islamic Banking Division
While primarily a conventional institution, Suez Canal Bank has offered Islamic banking services since the 1980s, including an Islamic branch in Dokki, which may provide Sharia-compliant financing services.