2019-12-22

A circular dated December 19, 2019 regarding the real estate financing initiative for middle-income people

The letter announces a new initiative by the Egyptian Central Bank to allocate 50 billion Egyptian pounds for mortgage financing, targeting middle-income customers. The letter outlines the terms and conditions of the initiative, including a 10% interest rate for a maximum of 20 years. It emphasizes the importance of adhering to credit granting controls and ensuring all requirements, guarantees, and documents are met before allowing the use of financing. The letter also highlights the need for strict compliance with credit-granting controls and the submission of all necessary documents to complete the mortgage process.

Egypt

Central Bank of Egypt

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