CBE doubles capped loans limit for mortgage finance

CAIRO - 18 February 2020: The Central Bank of Egypt (CBE) has upped the capped loans limit for mortgage finance from five percent to 10 percent from the overall bank loan portfolio.

The move falls within the framework of a new initiative adopted by the CBE to promote the real estate market via providing funds worth up to LE 50 billion to help middle-income homebuyers obtain mortgage loans, said a statement released by the bank on Monday.

However, the increase will not apply to the Egyptian Arab Land Bank and the Housing and Development Bank, the statement noted.