Banque Misr, partners to fund for low-income earners housing units in Egypt
Banque Misr signed a cooperation protocol with the Social Housing Fund, Real Estate Finance and Misr Express for Development and Trade (Zaher), to fund for housing units for low-Income earners in October Gardens, Egypt.
Mr. Mohamed Al-Atrebi, Chairman of the Board of Directors of Banque Misr, signed the protocol with Ms. Mai Abdel Hamid Ahmed, Chief Executive Officer of the Fund, and Eng. Magdy Zaher, Chairman of the Board of Directors of the Company.
The conclusion of the cooperation protocol comes within the framework of the Bank’s firm belief in the importance of community development and in availing opportunities for low-income groups so that they are able to acquire appropriate housing, in line with the State’s strive to accommodate and serve this social segment.
Candidates deserving of these housing units will be funded by Banque Misr, in accordance with the low-income groups program, as part of an initiative launched by the Central Bank of Egypt. The Social Housing Fund will also extend its support and assistance to these candidates.
The signing of this protocol supplements the Bank’s pioneering and leading role in the field of real estate financing; since it has participated in the real estate financing initiative launched by CBE for the purpose of enhancing both the real estate and construction sectors, for the benefit of low-income segments.
Banque Misr has also offered a long-term real estate financing product for other customer segments by introducing simple and convenient procedures. Worth noting is that some 59 thousand loans have been granted to low-income groups towards real estate financing, at a total value of up to EGP 6 billion.
Banque Misr, and owing to its status as a leading and pioneering banking institution, has consistently participated in initiatives and protocols aiming to offer services that fulfil the needs of customers. The Bank considers customer satisfaction a paramount tenet of its business and deems its valued customers as pivotal partners in its success.