Cairo – Mubasher: Banque Misr has reached the final stages to launch mortgage financing products for Egyptian expats in the UAE.
The Egyptian bank is currently working on the technological system in its branches in the UAE to facilitate the activation of the new products as soon as possible, vice chairman Akef El-Maghraby told Almal News.
The value of financing ranges between EGP 200,000 and EGP 5 million, with no more than 70% of the property’s value, El-Maghraby added.
He stressed that customers can directly deal with Banque Misr in the UAE, as the bank will manage the whole transfers.
On 9 October, Banque Misr lowered the Egyptian pound deposit interest rates by 0.75% to maintain money cost.
