Mai Abdel Hamid: The agreement allocates EGP 50 billion in financing for low-, middle-, and upper-middle-income citizens
Hisham Okasha: The protocol reflects a strategic partnership that has been in place since 2014
The Social Housing and Mortgage Finance Fund has entered into a cooperation protocol with Banque Misr to enhance joint efforts in the mortgage finance sector, in alignment with the initiatives introduced by the Central Bank of Egypt.
The agreement was signed by Ms. Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, and Mr. Hisham Okasha, CEO of Banque Misr.
Mai Abdel Hamid stated that the fund values its long-standing collaboration with Banque Misr, noting that the bank was among the earliest participants in the social housing program. She emphasized its significant contribution to financing low-income beneficiaries of housing units offered through the fund’s various announcements.
She further explained that partnerships with the banking sector are a key factor in the success of the presidential “Housing for All Egyptians” initiative. These collaborations help reduce the financial burden on citizens by offering mortgage financing at subsidized interest rates and repayment periods extending up to 20 years.
Abdel Hamid also highlighted that the newly signed protocol aims to secure EGP 50 billion in financing dedicated to applicants from low-, middle-, and upper-middle-income groups.
For his part, Hisham Okasha confirmed that renewing the agreement with the Social Housing and Mortgage Finance Fund builds on a strong strategic relationship that began in 2014. He noted that this cooperation supports the bank’s strategy to broaden access to mortgage finance for low- and middle-income segments.
Okasha commended the fund’s pivotal role in advancing the mortgage finance sector, pointing out that Banque Misr has served approximately 160,000 clients—most of whom were previously outside the banking system. He added that women account for 25% of the bank’s mortgage customers, while total financing provided has reached around EGP 25 billion.
He also affirmed that the protocol reinforces Banque Misr’s leading position in mortgage finance, as the bank continues to play an active role in funding initiatives targeting low- and middle-income citizens. In addition, the bank offers a wide range of mortgage solutions, both within and beyond these initiatives, to meet diverse customer needs.
Both parties concluded by expressing satisfaction with the renewal of the protocol and their commitment to further expanding their partnership in the coming period, with the goal of better serving citizens and strengthening cooperation in the mortgage finance sector.
The signing ceremony was attended by Ms. Hala Ghazy, Deputy CEO of the Social Housing and Mortgage Finance Fund; Ms. Hend Fahmy, Head of Financial Inclusion and Mortgage Finance at Banque Misr; and several senior officials from both organizations.