Chairman of the Egyptian Financial Supervisory Authority Decision No. 1076 of 2015 Regarding Real Estate Financing Agreement Models

Egyptian Financial Supervisory Authority

Decision No. (1076) of the Year 2015
Dated 24/12/2015
Regarding Models of Real Estate Financing Agreements

Chairman of the Egyptian Financial Supervisory Authority

Having reviewed the Real Estate Financing Law issued by Law No. (148) of 2001, as amended by the President of the Republic's Decision by Law No. (55) of 2014, and its Executive Regulations;

And having reviewed Law No. (10) of 2009 regarding the regulation of supervision over non-banking financial markets and instruments;

And having reviewed the President of the Republic's Decision No. (192) of 2009 issuing the Basic Statute of the Egyptian Financial Supervisory Authority;

And having reviewed the Egyptian Financial Supervisory Authority Board of Directors' Decision No. (111) of 2015 regarding the rules and standards for practicing real estate financing activities;

And having reviewed the Memorandum from the Central Administration for Supervision and Inspection of Financing Companies dated 21/12/2015;

Decided:

Article (1) The attached models regarding real estate financing agreements shall be implemented, which are:

• Model (T.A/1) Real estate financing agreement for purchasing a property/unit.
• Model (T.A/2) Real estate financing agreement for constructing a property.
• Model (T.A/3) Real estate financing agreement for renovating/improving a property.
• Model (T.A/4) Real estate financing agreement under the Ijara system (Lease ending with ownership).
• Model (T.A/5) Real estate financing agreement under the Murabaha system.
• Model (T.A/6) Real estate financing agreement for purchasing a property/unit under the Participation system.
• Model (T.A/7) Real estate financing agreement for constructing a property/unit under the Participation system.
• Model (T.A/8) Basic Conditions for Real Estate Financing.

Article (2) This Decision shall be published on the Authority's website and in the Egyptian Official Gazette, and shall be enforced from the date of its publication.

Chairman of the Authority
Sherif Samy

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(The remainder of the document consists of the contract models mentioned above, which include detailed data and standardized legal clauses for each model).