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In the year 1963 until the year 1967, further efforts to put into practice Islamic banking and finance principles were implemented in Egypt through the establishment of the Mitt Gamer Savings Bank in the Nile Delta countryside. That was the first modern experiment with Islamic banking in Egypt, through the combined idea of a German savings bank with the principles of rural banking in the general framework of Islamic values (Ahmed, 1992). Bank operations are based on the same principles of Islam that are without interest to depositors or borrowers. According to Ariff (1988), this experiment was seen as successful when there were nine other banks in the country also adapting the same operating way as the Mit Ghamr Saving Bank and contributing to an increase in the amount of deposits.