Back to the complete issue
Tuesday, 18 February 2020

Mortgages in Egypt can now make up 10% of commercial bank portfolios

REGULATION WATCH- Central bank raises ceiling on mortgages as a percentage of bank loan books: Mortgages can now make up 10% of commercial banks’ lending portfolios, up from 5% previously, according to a circular issued by the Central Bank of Egypt (CBE) earlier this week. The change comes as the CBE is finalizing a program that will give middle-income homebuyers access to subsidized mortgages on houses valued at up to EGP 2.25 mn ahead of launching the program in March, we noted earlier this month. The EGP 50 bn program was announced in December, and is a continuation of a previous CBE initiative that ran from 2014 until January 2019.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.