Mortgage Finance Fund Loans Remain Steady Amid Interest Hikes

Mortgage Finance Fund Loans Remain Steady Amid Interest Hikes

The loans provided by the Mortgage Finance Fund for real estate, targeting middle- and low-income citizens, will remain steady amid a 3% increase in key interest rates at banks, Mai Abdel Hamid, Chairman of Mortgage Finance Fund told Invest-Gate.

Her statement comes following the Central Bank of Egypt’s decision to raise key interest rates by 3% in the aftermath of a long-anticipated move to liberalize the value of the Egyptian pound against the US dollar.

The interest rate on loans will not increase to more than the official 7.75%, irrespective of the central bank’s decision to increase interest rates, Abdel Hamid said.

The central bank decided that interest rate on loans will increase by 3% to register 15.25%.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register