Egypt’s mortgage finance activity grows to 11.5 bln pounds this year

By Islam Salah Eslam Abdelhameed On Dec 4, 2019

Mohamed Omran, chairman of the Egyptian Financial Supervisory Authority (EFSA) speaks at the Egyptian Third Annual Leasing Conference in Cairo on October 16, 2018.

Egypt’s mortgage finance activity recently rose to 11.5 billion Egyptian pounds ($711.7 million) from 500 million pounds in 2009, chairman of Financial Regulatory Authority (FRA) said on Tuesday.

“Microfinance activity (in Egypt) increased to around 15 billion pounds at the end of last September,” Mohamed Omran said during a news conference, adding that the cash benefited 3 million clients in five years.

Financial Regulatory Authority (FRA)mortgage finance activity