Emrc Establishment Agreement

On May 29, 2013, EMRC signed a new master`s refinance agreement with Sakan Finance Company. Sakan Finance Company joined EMRC in December 2012 as a new shareholder and benefited from a 20 million EGP mortgage refinancing line. The first tranche was used following the signing of a master refinancing agreement of 16 million EGP in May 2013. On June 30, 2013, in addition to primary mortgage assistance for financing low-income citizens, EMRC signed a new master`s refinance agreement with Misr Bank for 20 million EGP. This is the first refinancing agreement signed with Misr Bank, one of four companies responsible for funding the National Housing Program (NHP), which supports low-income citizens. The EMRC had also provided the refinancing of this tranche as part of the sale of the right-hand product; a product specifically designed and introduced to facilitate the liquidation of a large number of mortgages with relatively low credit values under NHP. In addition to supporting primary mortgage lenders for financing the low-income segment, EMRC signed a new master financing agreement with Taamir Mortgage Company for 35 million EGP on April 24, 2013 as part of the National Housing Project Portfolio. On April 14, 2013, EMRC signed an agreement with Tamweel Mortgage Finance for a tranche of 2.1 million EGP, including mortgages made available to low-income citizens. March 2017: EMRC launches a new product in collaboration with the Egyptian Central Bank to refinance mortgage lending to low- and middle-income citizens under the CBE initiative.

To address recent developments in the mortgage market, EMRC is launching two new products to refinance the mortgage portfolios of primary mortgage lenders for administrative and commercial purposes, both for individuals and businesses. This brings the number of products offered by EMRC to eight main products, in addition to several other by-products, to meet the different needs of their customers. Lobna Helal, Vice Governor of the Central Bank of Egypt, will remain President of the EMRC. Ms. Lobna Helal has been appointed; as a representative of the Egyptian Central Bank; in March 2013, full-time president and ceo of EMRC. However, under Presidential Decree No. 427 for 2015, Ms. Helal was appointed Vice Governor of the Central Bank of Egypt on November 27, 2015, resigned as Executive Director of the EMRC while remaining President. EMRC has launched a new product for the refinancing of high-end mortgage portfolios „Elite“, which allows to accept portfolios of mortgages with unpaid balances via EGP 2 million to meet the rise in unit prices in the real estate market and to meet the needs of their customers. This proceeds will help expand EMRC`s refinancing opportunities for primary mortgage lenders.

EMRC is pleased to announce Contact Mortgage Finance as a new shareholder.