The Egypt Financial Regulatory Authority (FRA) issued Circular No. 4 of 2025 prohibiting companies operating in mortgage finance and financial leasing from dealing with any real estate valuation experts that are not officially registered and approved in the FRA’s official registry, whether individuals or legal entities. Valuation reports issued by unregistered parties are deemed void and cannot be relied upon in any financial or financing transactions, with breaches treated as explicit violations subject to accountability. The circular requires full compliance with the Egyptian Real Estate Valuation Standards issued under FRA Board Decision No. 39 of 2015 for all valuations used. It defines a real estate valuation expert as any natural or legal person undertaking property valuation and determining value for mortgage finance purposes. Non-compliance is framed as a breach of Mortgage Finance Law No. 148 of 2001 and its executive regulations and amendments, and the measure is grounded in Articles 3 and 4 of Law No. 10 of 2009, following the FRA’s observations of unlawful practices by some firms engaging unregistered valuers.
Egypt Financial Regulatory Authority 2025-07-29
Egypt Financial Regulatory Authority prohibits mortgage finance and financial leasing firms from using unregistered real estate valuers
The Egypt Financial Regulatory Authority (FRA) issued Circular No. 4 of 2025, prohibiting mortgage finance and financial leasing companies from using unregistered real estate valuation experts. Valuation reports from unregistered parties are void, and non-compliance breaches Mortgage Finance Law No. 148 of 2001, subject to accountability. The circular mandates adherence to Egyptian Real Estate Valuation Standards and is based on FRA's observations of unlawful practices.