Regulatory Alerts2008-07-10
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Prime Minister's Decree No. 1864 of 2008 Amending Some Provisions of the Executive Regulations of the Mortgage Financing Law
Prime Minister Ahmed Nazif issued Decree No. 1864 of 2008 to amend Article 6 of the Executive Regulations of the Mortgage Financing Law. The amendment redefines a qualifying investor for mortgage financing support as any individual with an annual income below 21,000 Egyptian pounds, or 30,000 pounds when including a spouse and minor children. It further mandates that priority for economic housing subsidies be strictly reserved for lower-income applicants who have not previously received cash assistance and do not currently own residential property.
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