The Egyptian Tax Authority taxes profit distributions at 20% — like conventional interest. Faisal Islamic statements are Arabic-first with Murabaha and Wakala labels. Pull it into Excel in seconds.
Convert your Faisal Islamic statementFaisal Islamic Bank of Egypt, founded in 1977 as Egypt's first Islamic bank, serves Sharia-committed retail and SME customers who avoid interest-based banking entirely. Statements carry EGP salary credits, profit distributions on investment accounts, Murabaha and Musharaka financing instalments, and an annual Zakat deduction. The Egyptian Tax Authority (ETA) wants all of it categorised — and it treats Islamic profit the same as conventional interest.
Egypt's tax rules are layered: 14% VAT on most goods and services, 22.5% flat corporate income tax, progressive personal income tax up to 27.5%, and a 20% withholding on investment income. Faisal Islamic profit distributions ('توزيع أرباح') are treated as investment income and subject to that 20% withholding — exactly like interest. The Zakat deduction ('زكاة') is a personal religious obligation and is not a deductible expense under Egyptian income tax law. A converted statement separates each correctly in one Excel pass.
Faisal Islamic issues an Arabic-first bilingual PDF with Islamic product terminology throughout: Murabaha, Musharaka, Mudaraba, Wakala. The account header includes a Sharia supervisory board reference and the Islamic finance product type. Profit distribution entries appear as separate line items, distinct from principal movements. Zakat-eligible balance indicators may appear where applicable.
Profit distribution ('توزيع أرباح') credits are post-withholding — the 20% is already deducted, so the gross figure is needed for full disclosure. Zakat ('زكاة') deductions appear infrequently, once a year, with unusual amounts; a generic parser may flag them as anomalous debits. Kashfbank reads the Arabic-first layout natively and keeps each Islamic label intact so your accountant treats profit, financing, and Zakat correctly.
Match what the ETA expects on the personal income form, the corporate return, and the VAT return. Faisal Islamic's Arabic labels are extractable; profit and Zakat lines need a second look.
Arabic-first bilingual PDF. Islamic product terminology throughout: Murabaha, Musharaka, Mudaraba, Wakala. Account header includes Sharia supervisory board reference and Islamic finance product type. EGP running balance. Profit distribution entries appear as separate line items distinct from principal movements. Zakat-eligible balance indicators may appear where applicable. Older statements (pre-2018) may be lower-resolution scans.
| Label | Meaning |
|---|---|
| مرابحة | Murabaha cost-plus financing instalment |
| توزيع أرباح | Profit distribution credit on investment account |
| وكالة استثمار | Wakala investment placement or return |
| زكاة | Zakat deduction from eligible balance |
| إيداع نقدي | Cash deposit |
Egyptian corporate tax at 22.5% requires quarterly advance payments; converted statements showing quarterly income help CPAs calculate accurate installment amounts to avoid penalties.
Pull the right period from Faisal Islamic Mobile
Egyptian personal returns cover Jan–Dec. Corporate returns may be fiscal or calendar. Request a Faisal Islamic statement covering your full filing period. Older statements (pre-2018) may be lower-resolution scans — the conversion still reads them.
Upload and confirm the Arabic-first layout
Drop the PDF into Kashfbank. The Arabic-first bilingual format is read natively — no translation. Murabaha, Musharaka, Wakala, and Zakat labels are preserved exactly as printed.
Filter by category for each form
Salary and inbound transfers for the income section. Profit distribution for investment income (gross-up the 20% withholding). Murabaha instalments as financing cost. Zakat kept separate — it is not deductible.
Hand off to your accountant
Share the CSV with your ETA-registered accountant. The standard column layout (Date, Description, Debit, Credit, Balance, Category) imports cleanly into the tools Egyptian accounting practices use.
Common challenges
Is the Faisal Islamic profit distribution taxed like interest in Egypt?
Yes. The ETA treats profit distributions ('توزيع أرباح') as investment income subject to the 20% withholding tax, the same as conventional interest. The credit you see is post-withholding; to report gross, divide the credited amount by 0.80. Kashfbank preserves the net figure exactly as printed.
Can I deduct the Zakat shown on my statement from my Egyptian income tax?
No. The Zakat deduction ('زكاة') is a personal religious obligation and is not recognised by the ETA as a deductible expense under Egyptian income tax law. Kashfbank tags it separately so your accountant does not mistakenly treat it as a deductible cost.
Does Kashfbank read Faisal Islamic's Arabic-first statement correctly?
Yes. The statement is Arabic-first with Islamic product terminology throughout. Kashfbank extracts the Arabic natively — no translation, no OCR workaround. Murabaha, Musharaka, Mudaraba, Wakala, and Zakat labels stay intact on every row.
My statement spans the EGP devaluations. How does that affect the return?
Each transaction stays at its transaction-date EGP value. The ETA looks at amounts at the time each entry occurred, not at a year-end exchange rate. Kashfbank preserves the original transaction-date figure on every row, including older lower-resolution scans from pre-2018.
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Regulator: Central Bank of Egypt (CBE)
Fiscal year: Jul 1 – Jun 30 (government); Jan–Dec (private sector)
Full country guide →Statement language: Arabic / English