Arab Finance: Abu Dhabi Islamic Bank Egypt (ADIB) has inked a cooperation agreement with New Avenue Real Estate Consultancy to provide sharia-compliant property finance services at competitive prices to the latter's customers, according to an emailed press release on May 21^st.

ADIB Egypt will provide mortgage finance for the housing units at a rate of up to 80% of the unit’s value, at a value of up to EGP 15 million, to be repaid over a period of up to 15 years.

The bank will also provide commercial or administrative mortgage finance at a rate of up to 70% of the unit’s value, at a value of up to EGP 25 million, to be repaid over a period of up to 10 years.

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