Social Housing Fund and Bank NXT Sign EGP 2 Billion Mortgage Finance Agreement for Low- and Middle-Income Citizens

The Social Housing and Mortgage Finance Fund (SHMFF) has signed a cooperation protocol with Bank NXT to expand their joint efforts and increase financing capacity for applicants under the Fund’s housing initiatives. The protocol agreement was signed by Mai Abdel Hamid, CEO of SHMFF, and Tamer Seif El Din, CEO and Managing Director of Bank NXT.
The signing ceremony was attended by senior representatives from both parties, including Hala Ghazi, Deputy CEO of SHMFF, and Omnia El-Maadawy, General Manager of the General Support Department. Representing Bank NXT were Iman Badr, Deputy CEO of Consumer Banking, Marketing, and Financial Inclusion; Amr Gamali, Deputy CEO Business; Tamer Ahmed Mostafa, Senior Director Business and Sustainable Development; and Mostafa El Shazly, Head of Mortgage Finance at Bank NXT.
Following the signing, Mai Abdel Hamid, CEO of SHMFF, emphasized that Bank NXT is a key partner to SHMFF in providing mortgage finance solutions to low- and middle-income citizens, helping them access residential units under the Presidential Initiative, “Housing for All Egyptians.”
She further noted that more than 2.1 million applicants have applied for housing units under the Fund’s programs, which prompted SHMFF to enhance its digital systems to streamline mortgage procedures. The upgraded platform will be announced soon. She added that the new protocol renews the cooperation agreement signed initially on August 1, 2023, and now significantly raises the financing cap to EGP 2 billion, compared to EGP 800 million under the previous agreement.
From his side, Tamer Seif El Din, CEO and Managing Director of Bank NXT, stated that this protocol aligns with the Presidential Initiative and the Central Bank of Egypt’s mortgage finance programs, which encourage banks to expand financing for low- and middle-income citizens. He highlighted Bank NXT’s commitment to its dual role of economic development and social responsibility by providing long-term financing at subsidized interest rates, ranging from 3% to 8%, for up to 30 years.
He revealed that Bank NXT has financed 11,785 clients through these initiatives, with its mortgage portfolio growing to EGP 2.6 billion as of September 2025, compared to EGP 1.5 billion in September 2024. This represents a growth rate of 73%, with 75% allocated to low-income financing and 25% to middle-income financing. Bank NXT is now among the top 10 banks participating in the mortgage finance initiatives, with one of the fastest-growing mortgage portfolios in the market.
Seif El Din also noted that the bank has launched a fully dedicated administrative center, the “Sales & Mortgage Hub,” at Bandar Mall in Maadi to streamline procedures and provide citizens with a one-stop solution for mortgage services, which can be found here.
At the conclusion of the signing, both parties reaffirmed their commitment to deepening cooperation. They expressed their shared vision for continued collaboration, which will further support low- and middle-income citizens in securing housing units under SHMFF’s initiatives.

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