Housing and Development Bank

Housing and Development Bank () is an Egyptian bank established in Cairo on June 30, 1979 to alleviate housing shortages by narrowing the gap between the low supply and increasing demand. The bank has about 1.265 billion Egyptian pounds of capital and net profits of about E£275 million. The bank is a joint-stock company, of which 29.81% of capital is owned by the New Urban Communities Authority, 11.43% by the Ministry of Awqaf, 9.74% by the Abdul Moneim Al-Rashed Humanitarian Foundation, 8.92% by Misr Life Insurance, 8.29% by Misr Insurance, and 7.41% by the Housing Projects Fund.
History.
The Housing and Development Bank was established in according with the provisions of the Investment Law by the Ministry of Finance’s Decree 147 on June 30, 1979, and registered with the Central Bank of Egypt under No. 89 on September 24, 1979 as an Investment and Business Bank. Authorized for E£1 billion, the capital was issued as E£550 million in 50 million shares later offered on the Egyptian Exchange.
Subsidiaries.
The Housing and Development Bank owns a majority of four subsidiaries:
The bank also owns 50% or fewer shares of many more as follows: