Circular dated June 5, 2022 regarding adding financing for the maintenance deposit to the real estate financing initiative for middle-income people, with a return of 8 percent

Cairo: June 5, 2022

To: Mr. Chairman of the Board of Directors Bank

$6\frac{\sqrt{3}+\sqrt{3}}{2}$ 3.

Greetings,

With reference to the Real Estate Financing Initiative issued on December 19, 2019, and its subsequent amendments, under which an amount of 50 billion EGP was allocated through banks to be directed to the middle-income category at an interest rate of 8% (declining basis), and with reference to the continuous efforts made to facilitate matters for customers and remove obstacles they face in obtaining financing within the real estate financing initiatives to maximize their benefit, and following the conditions applied under the Real Estate Financing Initiative for low and middle-income people at an interest rate of 3% (declining basis) regarding the financing of the maintenance deposit, the Board of Directors of the Central Bank of Egypt has decided in its meeting held on May 31, 2022 the following:

"Add the following item to the Real Estate Financing Initiative for middle-income people at an 8% declining rate issued on December 19, 2019:

• The financing under the initiative shall include the value of the maintenance deposit, with a maximum percentage of 10% of the unit price, subject to the remaining conditions of the initiative remaining unchanged."

Please kindly ensure compliance with the above from its date.

Yours sincerely,

Tarek Amer