The 29-year-old runs out of contract in the summer and the Dervishes have been struggling to reach an agreement with him over the past few months.
However, Ismaili football director Ihab Galal revealed that there is mutual interest in a new deal in the meantime, despite Fadl's high financial demands.
"Actually we had talks with Fadl since a few days and we are expecting to finalize negotiations soon," Galal told FilGoal.com.
"We are keen to keep Fadl and he is ready to accept lower wages with respect to the club's unstable financial position."
Fadl, who was involved in a rift with Ismaili officials over unpaid wages last season, was poised to leave for Zamalek in spite of his admitted loyalty to the coastal club.
The Egypt international was left out of Sunday's World Cup qualifier with Zambia, who claimed a precious draw in Cairo.