Qasatli Finance has signed a credit facility agreement with the National Bank of Egypt (NBE) as part of its strategy to expand financing activities and strengthen cooperation with banking institutions.
The agreement is aimed at supporting Qasatli’s mortgage financing operations and expanding access to financing for its customers, according to the company.
Ehab Omar, Managing Director of Qasatli Finance, said the agreement represents a significant milestone for the company and reflects NBE’s confidence in Qasatli’s performance, governance, compliance, and risk management practices.
He added that Qasatli is targeting a financing portfolio of at least EGP 2.5bn over the next three years, through cooperation with banking institutions, as part of its expansion strategy.
Omar noted that the agreement also reflects the banking sector’s continued support for non-bank financial institutions, particularly mortgage finance and leasing companies, which he described as playing an important role in expanding access to financing and supporting economic activity.
He further emphasized that Qasatli adheres to the regulatory requirements of the Financial Regulatory Authority (FRA), including governance and compliance standards, as well as Know Your Customer (KYC) procedures and credit assessments before extending financing.
According to Omar, the agreement is expected to go beyond providing a financing facility for Qasatli’s customers and serve as the starting point for a longer-term partnership with NBE. The two sides are also exploring cooperation on additional products, services, and financing solutions currently being developed by Qasatli.
He disclosed that the company plans to expand its partnerships with banks and financial institutions, while focusing on developing financing solutions and strengthening its position in Egypt’s mortgage finance market.
Omar concluded that the agreement forms part of Qasatli’s broader expansion strategy, which focuses on growing its financing portfolio, developing new products, and establishing long-term partnerships with major financial institutions.
