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.

GlobalCorp has finalized two securitization issuances with a combined value of EGP 4.91 billion, including its seventh issuance for financial leasing worth EGP 2.32 billion and its first issuance for mortgage finance valued at EGP 2.59 billion, as per an emailed press release.

The Central Bank of Egypt (CBE) has approved new amendments to the income brackets and interest rates for mortgage financing, following discussions in Cabinet sessions No. 263 on November 8th, 2023, and No. 15 on October 16th, 2024.

Al Ahly Mortgage Finance is aiming to double its financing portfolio to reach EGP 7 billion by the end of 2025, compared to the current portfolio of EGP 3.7 billion.

The total value of capital market issuances in Egypt rose by 45% in the first seven months of 2024, reaching EGP 344.931 billion, versus EGP 237.826 billion during the same period last year, according to the Financial Regulatory Authority’s (FRA) report on non-banking financial activities for July 2024.

First Abu Dhabi Bank Misr (FABMISR) has activated the Central Bank of Egypt’s (CBE) initiative aiming to facilitate the ownership of residential units for middle-income individuals via mortgage finance of an 8% declining annual interest rate.

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