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Banque Misr Signs a Protocol of Cooperation within the Framework of the CBE’s New Middle-Income Initiative with the Social Housing Fund and the Employees Syndicate of the Suez Canal Authority for Financing 1,200 Housing Units for Middle Income Employees
Banque Misr signed a protocol of cooperation with the Social Housing and Real Estate Financing Fund and the Employees Syndicate of the Suez Canal Authority for financing 1,200 housing units of the middle-income housing project in the city of Port Fouad in Port Said Governorate. This comes within the framework of the Central Bank of Egypt’s new initiative for middle-income individuals.
The protocol was signed by and between Mr. Mohamed El-Etreby – Chairman of the Board of Banque Misr, Ms. Mai Abdel Hamid Ahmed – CEO of the Fund and Mr. Atef Abdel-Khaleq Metwally – Chairman of the Syndicate Committee for the employees of the Suez Canal Authority.
The signing of the protocol comes in lieu of Banque Misr’s firm belief in the importance of social development and in providing the opportunity for middle-income sectors to obtain adequate housing, in line with the directives of the state, which demonstrates a particular interest in this sector. Eligible candidates shall be funded by Banque Misr in accordance with the middle-income program, which is part of the CBE initiative. The protocol is the first protocol of cooperation concluded with the Social Housing and Real Estate Financing Fund under the umbrella of the CBE’s middle-income initiative.
Banque Misr’s conclusion of this protocol complements its pioneering role in the field of real estate financing; whereby it had partaken in the initiatives of the CBE in this domain with the aim of strengthening the real estate and construction sectors for low- and middle-income individuals. The Bank also provides a long-term real estate financing product to other customer segments, subject to simple and convenient procedures.
Banque Misr has always been keen on partaking in initiatives and protocols that aim to provide services to accommodate the needs of customers, since customer satisfaction is a constant focus of the Bank’s activities and customers are considered partners in success at all levels by the institution.