Cairo – 31 March 2024: First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, announced its implementation of the latest initiative introduced by the Central Bank of Egypt, mortgage finance. This initiative aims to facilitate property ownership for middle income individuals. FABMISR now offers mortgage finance with an annual interest rate of up to 8% decreasing, aiming to meet the needs of a specific customer segment, while increasing demand for real estate financing services.

Through this initiative, FABMISR aims to introduce real estate financing within the first year, catering to needs of diverse customer landscape within the Egyptian market. With the rapid development witnessed in real estate financing, the bank aims to provide unique value-added services.

In this context, Mr. Mohamed Abbas Fayed, Chief Executive Officer and Managing Director of FABMISR, stated: “We take pride in participating in the mortgage finance initiative introduced by CBE. This initiative resonates with our global strategy, which focuses on broadening our market reach by catering to various customer segments.”

It is worth mentioning that FABMISR is dedicated to providing an exceptional experience to its clients by offering additional advisory services. Additionally, the bank ensures the simplification of procedures and documentation for customers. This effort aims to drive economic growth and stimulate activity in the real estate market.