SHMFF, FABMISR sign cooperation protocol to expand affordable mortgage financing
Updated 10/19/2025 12:38:00 PM
Arab Finance: The Social Housing and Mortgage Finance Fund (SHMFF) has signed a cooperation protocol with First Abu Dhabi Bank Egypt (FABMISR) to enhance collaboration in the field of mortgage financing, as per an emailed press release.
The agreement aims to support beneficiaries of the fund’s housing programs for low- and middle-income citizens.
The protocol was signed by Mai Abdel Hamid, CEO of the SHMFF, and Mohamed Abbas Fayed, CEO and Managing Director of FABMISR.
Abdel Hamid stated that the SHMFF is keen to strengthen cooperation with the banking sector to benefit low- and middle-income citizens seeking to obtain housing units through the fund’s various announcements under the presidential initiative “Housing for All Egyptians.”
She noted that the number of financing institutions partnering with the fund has increased from only four banks at the start of the initiative to 31 financial institutions following this agreement, including 23 banks and eight financing entities.
She also added that the protocol with FABMISR aims to provide EGP 500 million in mortgage financing for low- and middle-income citizens to help them acquire housing units offered through the fund’s various projects.
For his part, Fayed emphasized that the signing of the protocol reflects FABMISR’s ongoing commitment to supporting mortgage finance programs targeting low- and middle-income citizens, in line with Egypt Vision 2030 and the principles of social and economic sustainability.
He highlighted that the bank believes every citizen has the right to decent housing and is therefore working to simplify financing procedures and provide flexible banking solutions tailored to various income segments.
Furthermore, he said that this partnership with SHMFF aligns with the bank’s strategy to support national initiatives that promote social justice and improve citizens’ quality of life.
At the conclusion of the signing, both parties expressed their mutual interest in continuing and expanding cooperation, affirming that this protocol marks only the beginning of further joint efforts to help citizens access suitable housing under affordable terms.
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