Chairperson of the Board of Directors of the Industrial Development Bank and Egyptian Workers (IDBE-Egypt) Maged Fahmy, and Mai Abdel Hamid, head of the Mortgage Finance Fund (MFF), signed a cooperation protocol to increase the former’s stake in the Central Bank of Egypt (CBE)’s initiative to finance housing for low and medium-income persons.
The bank and the fund had earlier signed a contract worth EGP 250m.
According to Fahmy, the bank has injected EGP 285m to provide about 2,800 customers within the CBE’s initiative with financing so far.
