Vice Chairperson and CEO of Housing and Development Bank (HDB) Hassan Ghanem and Head of Buildings Finance Fund Mohamed Helal signed a cooperation protocol on Tuesday.
Ghanem said the HDB would market the housing units offered by the fund through the bank’s website, to ensure transparency and equal opportunity, and to make it easier for citizens to apply for the units, whether inside or outside Egypt.
Customers can pay for the units through Meeza card or Felosy mobile app. They will be exempted from the commission on electronic collection as the HDB aims to stimulate online payment.
Ghanem affirmed that the bank was at the forefront of the participants in the Central Bank of Egypt’s (CBE) initiative collect mortgages electronically for social housing projects. The initiative was launched last year in cooperation with the Mortgage Finance Fund to facilitate mortgages collection.
It comes in line with the state’s move towards activating electronic payments at banks, starting with launching the National Council for Payments, besides the CBE’s policies to limit cash transactions.