Faisal Islamic Bank Egypt Launches Sealed-Bid Car Auction on June 16

Faisal Islamic Bank of Egypt has announced a new used car auction, operating under a sealed-bid system. The auction includes a range of used passenger cars alongside various scrap lots, as part of the bank's activities as an Egyptian joint-stock company.

Key Vehicles in the Auction

The passenger car lineup features several notable models: a Hyundai Elantra model year 2013, a 2009 Skoda Octavia, a 2016 Skoda Octavia, and a 2012 Toyota Corolla.

Auction Dates

The main car auction will take place on Tuesday, June 16, 2026, while the session for selling scrap lots and used items is scheduled for Sunday, June 21, 2026.

Terms and Conditions

The auction will commence at 12:00 PM at the Egyptian Engineers Association headquarters in Ramses, Cairo. The initial participation deposit is set at EGP 100,000. Bidders can obtain the terms and specifications booklet for EGP 500 from the Investment Trustees Department at Faisal Islamic Bank, located at 3 26th of July Street in Azbakeya, or from the office of certified appraiser Mustafa Mukhtar Hanafi at 9 Sherif Street in Abdeen, Cairo.