Chapter One: Credit Granting Controls

Section Eight: Mortgage Financing Controls

The Central Bank of Egypt has permitted commercial banks to grant mortgage loans, provided that the mortgage loan does not exceed 10% of the total mortgage portfolio of the bank, in accordance with the provisions of Circular No. 148 of 2001 and the Mortgage Financing Law.

Specifically:

1. The granting of mortgage loans for the purpose of mortgage financing.

2. Adherence to the applicable banking regulations.

3. The minimum amount of the mortgage loan granted by the bank shall not be less than 10% of the average monthly installment of the loan for the banks listed in the attached list of eligible mortgage banks.

4. The minimum amount of the mortgage loan granted by the commercial bank, whether individually or jointly, shall not be less than the average monthly installment of the loan, as determined by the Bank.

The Bank has decided to adopt the following measures regarding the minimum mortgage loan amount, considering the various loan types:

• The attached list of eligible mortgage banks, which was issued by the Bank and announced in the Official Gazette on 5 February 1998, shall remain valid until the expiration of the period specified in the attached list, which is five years from the date of publication of this decision.

• The Bank has decided that the minimum amount of the mortgage loan granted for mortgage financing shall not be less than the average monthly installment of the loan for the banks listed in the attached list.

• Mortgage loans granted under Law No. 148 of 2001 are excluded from this decision.

1. Published in the Official Gazette No. 13 of 13 June 2002 (Decision of the Chairman of the Central Bank of Egypt No. 28 of 2002). Published in the Official Gazette of the Central Bank of Egypt No. 16 of 2020.
2. Published in the Official Gazette of the Central Bank of Egypt No. 5 of 5 February 1998.
3. Published in the Official Gazette No. 22 of 22 March 2007.