Arabic to English Art/Literary Poetry & Literature

the novel is by Mahfouz, so it is Egyptian Arabic
the man talking is prone to slang, he is rich and uneducated and cynical, and uses the phrase in a variety of situations, e.g.:

After a girl invites him in to meet his father, he thinks to himself:
Now, Ferekeeko, the truth is, I am quite an eligible match, young and rich…

He makes a new acquaintance, a woman, and he thinks:
The woman is passable. I may need her some night. But why did I take the trouble to drive her home? Stupid! Ferekeeko, don’t blame me!

After a conversation with someone who lives at the same place, and mistaking his girlfriend for an easy woman, he says to himself:
Don’t worry yourself over trifles, Ferekeeko!

One other instance:
(again to himself, he says) How marvelous to be loyal to nothing, to be free, free of claims from class, country, or any duty whatever. And all I know of faith is that God is merciful and compassionate. Ferekeeko, don’t blame me!