2021-07-13

A circular dated July 13, 2021 regarding the real estate financing initiative for low- and middle-income people at a return rate of 3%

The letter announces a new initiative by the Central Bank of Egypt to provide affordable housing loans to low- and middle-income individuals at reduced interest rates. The initiative aims to support these individuals in acquiring suitable housing and stimulate the real estate sector, which has a significant impact on the economy and production. The letter outlines the terms and conditions of the initiative, including the maximum loan period of 30 years and the requirement for customers to be Egyptian citizens. It also highlights the importance of adhering to the credit granting guidelines issued by the Central Bank of Egypt and the procedures for customer evaluation and acceptance.

Egypt

Central Bank of Egypt

Show thumbnail