15%-revenue certificates not canceled because of new certificates: NBE

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Wed, 29 Apr 2020 - 11:26 GMT

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Wed, 29 Apr 2020 - 11:26 GMT

National Bank of Egypt (NBE) – Wikimedia Commons

National Bank of Egypt (NBE) – Wikimedia Commons

CAIRO - 29 April 2020: Vice President of the National Bank of Egypt (NBE) Yehia Abul Fotouh asserted that the bank is to continue auctioning saving certificates with a fixed monthly revenue of 15 percent for a year.

In statements to MENA on Wednesday, Abul Fotouh said that the old 15 percent-revenue certificates will not be canceled because of auctioning new certificates with a revenue of 14% for two years or three years with a revenue of 12.5 percent for the interest of the National Investment Bank.

The income of the 15 percent-revenue certificates that were auctioned in March 22 reached LE 75 billion until the middle of this week.

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