Islamic banks will raise interest rates as of next July

 The expert in real estate finance, Ahmed Arafat, said that "the real estate market has witnessed, since the beginning of this year, a great recovery, which included the purchase of buildings and lands by citizens and residents, and this was accompanied by activity in real estate finance, as the percentage ranged around 2.49%, even before the first of the year. April, which witnessed a rise of (0.25%) and the percentage will not be adjusted before the beginning of the third quarter of this year, specifically the first of next July, as most banks set the price on a quarterly basis, every 3 months.

He added, "The rise (the US reserve) was greater than expected, so it is expected that the banks will begin to gradually increase financing rates, especially on real estate financing, given its link to the price (EIBOR, which is the rate of lending between banks), and this may reduce the recovery in demand, but not by a large percentage. ".

Arafat continued, "Determining financing prices will be subject to the cost of funds borne by the banks as well as the specified profit margin, so there will be a permanent space in which to move, so as to strike a balance between that and maintaining customers, employing liquidity and increasing operational activity."

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