Central Bank Expands Scrutiny of Real Estate Developers' Financing

Central Bank Expands Review of Real Estate Developers’ Financing The Central Bank of Egypt is expanding the scope of its review of financing related to real estate development companies to include “check discounting” balances and the securitization of post-dated checks, in addition to financing related to securitization bond issuances. The Central Bank has requested data from banks on: ▪️ Bounced and returned checks ▪️ Real estate units delivered to customers ▪️ Financing balances related to securitization transactions Banks are required to submit the requested data by October 1 at the latest. The move is part of a broader review of banks’ exposure to Egypt’s real estate development sector.