Portfolio of Egyptian Mortgage Finance Firms hits EGP2.5 billion – Regulator

The portfolio of mortgage finance firms in Egypt has reached 2.5 million Egyptian pounds (US$327.5 million), the country’s market regulator chief said Tuesday.

In a keynote speech at Egypt’s second conference of “Partnership for Development” initiative, Sherif Samy – Chairman of the Egyptian Financial Supervisory Authority (EFSA), referred that his authority seeks to facilitate all difficulties the mortgage finance system in the country still faces.

The Egyptian top official further stated that his authority aims to hold the elections for the first federation of real estate financing before the holy month of Ramadan.

It is set to be the first federation of all entities working in the mortgage market, to play its pivotal role in supporting this vital sector, Samy noted.