{"id":323277,"date":"2021-09-07T13:03:11","date_gmt":"2021-09-07T13:03:11","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323277"},"modified":"2021-09-07T13:03:11","modified_gmt":"2021-09-07T13:03:11","slug":"sodic-cib-sign-a-mortgage-finance-protocol","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/07\/sodic-cib-sign-a-mortgage-finance-protocol\/","title":{"rendered":"SODIC, CIB sign a Mortgage Finance Protocol"},"content":{"rendered":"<p><span style=\"text-transform: initial;\">Leading real estate developer SODIC announced the signing of a collaboration protocol with the Commercial International Bank (CIB), to provide mortgage finance solutions to SODIC customers.<\/span><\/p>\n<p><span style=\"text-transform: initial;\">The protocol entails providing diverse payment plans for delivered units in accordance with Egypt\u2019s mortgage finance laws and regulations. SODIC customers will have the opportunity to buy ready for delivery units offered for sale in the company\u2019s different projects on a payment plan up to 20 years.<\/span><!--more--><\/p>\n<p>SODIC\u2019s existing customers can also benefit from this protocol when listing their homes for sale, capitalizing on SODIC\u2019s resale platform that will avail the same extended payment plan for their buyers. The signing ceremony was attended by Magued Sherif, SODIC\u2019s Managing Director; Amr El-Ganainy, CEO Institutional Banking &amp; Ahmed Issa CEO of Retail Banking at CIB, and senior members of both entities.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Commenting on the agreement, Magued Sherif, SODIC\u2019s Managing Director said: \u201cWe are excited to collaborate with our long standing partner CIB with its strong and proven track record in the banking sector. This protocol comes in line with our customer-focused approach to offer new financial solutions that facilitate the home-buying decision for our existing and potential customers.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Commenting on the agreement, Amr El-Ganainy, CIB\u2019s Chief Executive Officer Institutional Banking said: \u201cIt is always a pleasure to join forces with SODIC one of our most reputable clients. This mortgage protocol marks another successful milestone in CIB &amp; SODIC strong relationship. This protocol would offer a payment scheme up 20 years as an alternative financing solutions for unit buyers which comes in line with the bank\u2019s strategy to support the real estate market in specific and the CBE directives in this sector at large.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cWe are pleased to announce today the collaboration between CIB and SODIC, two leading institutions in the financial and real estate markets.\u201d said Ahmed Issa, Chief Executive Officer of Retail Banking. \u201cThe aim of this collaboration, which targets all segments of society, is to enhance the product and meet the needs of customers by providing numerous benefits. Through the combined efforts of both institutions, the best offers were designed to address those needs with regards to loan amount, installment period, and pricing,\u201d he stated. \u201cThanks to the ongoing support of CIB and SODIC, we are currently in the process of developing a top-notch product that fulfills the needs of customers in the Egyptian real estate market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading real estate developer SODIC announced the signing of a collaboration protocol with the Commercial International Bank (CIB), to provide mortgage finance solutions to SODIC customers.<\/p>\n","protected":false},"author":4,"featured_media":323278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,29],"tags":[310,299],"class_list":["post-323277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-real-estates","tag-commercial-international-bank-cib","tag-six-of-october-development-and-investment-sodic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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