Cairo - Mubasher: The Central Bank of Egypt (CBE) approved for Faisal Islamic Bank of Egypt to purchase the full equity held by the Science and Technology Development Fund in SMART Cards Application Company (Smart Digital Services) for EGP 53.74 million.

The Egyptian lender will, therefore, acquire 1.39 million shares, representing 11.20% of Smart Digital Services' capital, according to a bourse filing.

It is worth noting that during the first nine months (9M) of 2025, Faisal Islamic Bank of Egypt reported 69.70% year-on-year (YoY) lower consolidated net profits after tax at EGP 2.72 billion, against EGP 8.98 billion.