2017-10-09

A circular dated October 8, 2017 regarding increasing the amount allocated to the real estate financing initiative and the treatment of the wounded and families of army and police martyrs.

In October 2017, the Central Bank of Egypt held a board meeting, in which they decided: 1. To increase the allocated budget for housing finance for low-income and middle-class households to EGP 20 billion, up from EGP 10 billion. This increase includes removing income limitations for housing loan applicants. 2. To exclude military personnel and their families (up to second degree) from the housing loans' income limit requirement. Banks were also instructed to apply these exemptions in the second clause of this decision to the applications submitted by the Housing Finance Fund.

Egypt

Central Bank of Egypt

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