CBE increases capped loans limit for mortgage finance to 10 %

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  50 billion pounds to help middle-income homebuyers obtain mortgage loans.

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