Egypt braces for the first Federation for Mortgage Finance

Egypt’s market regulator, the Egyptian Financial Supervisory Authority (EFSA) is planning to form the first federation to encompass all the entities working in the country’s mortgage finance market, chairman Sherif Samy said on Wednesday.

He added that EFSA had held talks with the Federation of Egyptian Banks (FEB) and the local banks to participate in the formation of the new federation.

The new federation is expected to be established within the upcoming months, the Egyptian top official noted.