A circular dated June 22, 2017 amending the real estate financing initiative for low- and middle-income people

Cairo, June 22, 2017

Dear Chairman of the Board, Bank Tahya Greetings,

With reference to the real estate financing initiative for low- and middle-income people issued on February 19, 2014, and its subsequent circulars, including the amendment of some conditions of the initiative issued on February 24, 2016, and in light of the Central Bank of Egypt's desire to achieve better results in the coming years and accommodate a larger number of beneficiaries of the initiative, the Executive Board of the Central Bank has decided to amend the maximum threshold for the low-income segment as follows:

• Raising the maximum monthly income threshold for the low-income segment entitled to an interest rate of 5% from 1,400 EGP to 2,100 EGP.

In the same context, the Board of Directors of the Central Bank of Egypt, in its meeting held on June 22, 2017, decided the following:

1. Raising the maximum monthly income threshold for the middle-income segment to 10,000 EGP for singles (instead of 8,000 EGP for singles) and 14,000 EGP for families (instead of 10,000 EGP for families).

2. Raising the maximum unit price threshold for the middle-income segment to 700,000 EGP (instead of 500,000 EGP).

The following table illustrates the customer segments and the interest rate for each segment after the amendment:

Segment	Income Limits	Final Interest Rate
Low Income	Up to 2,100 EGP per month	5%
Middle Income	Singles: Up to 10,000 EGP<br>Families: Up to 14,000 EGP	7%<br>8%<br>10.5%
Real Estate Financing Fund (after amendment)	Singles: Up to 3,500 EGP<br>Families: Up to 4,750 EGP	950,000 EGP (after amendment)
Real Estate Financing	Customers determined according to the financing solution

*The maximum monthly income was raised by the Real Estate Financing Fund to 3,500 EGP per person and 4,750 EGP for a family.

Please accept our highest respect, Gamal Naguib