Egypt's mortgage market is small but tightening. CIB participates in the CBE initiative for units up to EGP 2.5M — and underwriters want twelve months of clean statements.
Convert your CIB statementEgypt's mortgage market is still small relative to the population — most property transactions are cash-dominant. The Mortgage Finance Authority (MFA) regulates the sector, and the Central Bank of Egypt's mortgage initiative offers subsidised rates for moderate-priced units. CIB participates in the initiative at the premium end.
Underwriters reviewing a CIB statement for mortgage want twelve months. They are not only checking that you can pay the installment — they are checking where the down payment came from. Post-2022 EGP devaluation made property values rise sharply in nominal terms, and lenders now re-examine income in real terms.
CIB's bilingual PDF makes mortgage review faster than at most Egyptian banks. The clear column structure, IBAN in the header, and visible running balance let the underwriter trace down payment funds back month by month.
Down payment seasoning is the issue specific to mortgage underwriting. The funds need to have been in your account for at least sixty days — ideally longer — to rule out a borrowed deposit. A converted spreadsheet shows you the exact date each large credit landed.
Twelve months gives the underwriter enough history to verify income stability, source the down payment, and check for any large unexplained inflows.
Professionally formatted bilingual PDF (Arabic and English). Clear columns: date, transaction description, debit, credit, EGP balance. Account summary header shows account number, IBAN, statement period, opening/closing balance. Both current account and credit card statement formats are supported. EGP two-decimal formatting. Post-2022 statements may show large balance swings due to EGP devaluations affecting FX-linked entries. Meeza card transactions appear with the Meeza network label.
| Label | Meaning |
|---|---|
| إيداع نقدي | Cash deposit at branch or CDM |
| POS مشتريات | Point-of-sale purchase (card payment at merchant) |
| تحويل ATM | Transfer initiated via ATM |
| Smart Wallet | Mobile wallet transaction (CIB Smart Wallet or Meeza Digital) |
| Salary | Employer salary deposit (WPS or direct credit) |
Rules in Egypt differ — see our country guide
Pull twelve months from CIB Mobile
Egyptian mortgage underwriting wants twelve months minimum, sometimes twenty-four. Download the full period from CIB Mobile, or request a branch-stamped copy if the lender is outside CIB.
Upload and review
Drop the PDF into Kashfbank. The converted spreadsheet shows you what the underwriter will see — go through it row by row before submission.
Document the down payment
Identify the credit(s) that built up your down payment. If any large credit is recent (under sixty days), prepare a source-of-funds explanation: gift letter, asset sale receipt, savings withdrawal.
Check income consistency
Twelve salary credits, same employer reference, similar amounts. If a bonus inflated one month, annotate it — underwriters will average over twelve months and treat bonuses separately.
Submit
Submit the original CIB PDF plus your down-payment source documents. Use the converted spreadsheet to brief your mortgage officer on any one-time entries.
Common challenges
How long does down payment 'seasoning' have to be at CIB?
Most Egyptian mortgage lenders, including CIB, want sixty days minimum. Twelve months in the account is the cleanest position. Recent large credits will trigger a source-of-funds request.
My down payment is partly a family gift. How do I document that?
Pair the gift credit row from your CIB statement with a gift letter from the donor stating the funds are non-repayable. CIB and the MFA both accept this with the donor's ID and a notarised letter.
I had FX Purchase rows during the March 2024 devaluation. Will that hurt my application?
FX Purchase rows are conversions, not income or debt. They look large on the statement but don't affect the debt-service ratio. Flag them in your file so the underwriter doesn't misread them as income shocks.
Does CIB accept my CIB USD savings account as down payment source?
Yes — CIB itself can see both accounts. For external lenders, you'll need to pull both the EGP and USD CIB statements and present them together. Kashfbank converts each separately with its base currency tagged.
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Regulator: Central Bank of Egypt (CBE)
Fiscal year: Jul 1 – Jun 30 (government); Jan–Dec (private sector)
Full country guide →Statement language: Arabic / English