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Foreign mortgage lenders allowed in Egypt for the first time

: Monday, July 07 - 2014 @ 02:41

Egyptian President Abdel Fattah Al-Sisi has issued a legislative amendment to the Mortgage Law, which would allow, for the first time, companies with foreign capital to finance mortgage in the country, in a move to provide low-income housing, Daily News Egypt has reported. According to the legislation, companies with foreign capital will be treated as companies with Egyptian capital, and will be exempt from Article 1 of the mortgage law regarding non-Egyptian real estate and land space.

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Monday, July 7- 2014 @ 2:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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