CAIRO - 24 March 2022: National Bank of Egypt and Banque Misr announced the one-year saving certificates - with an 18 percent annual yield - collected about LE 105 billion in three days.
The certificates were offered on the back of an exceptional decision by the Central Bank of Egypt (CBE) to raise the base rates by 1 percent.
Board Chairman of Banque Misr Mohamed el Atribi told MENA that the sale rates of the 18 percent annual yield certificates amounted to LE 33 billion in three days.
Deputy Chairman of the National Bank of Egypt Yehia Abul Fotouh said the bank collected LE 72 billion from selling the certificates over the past three days.
The new one-year saving certificates’ interest will be paid monthly.
The new certificates start from LE 1,000 and its multiples, and are issued for natural persons and minors.
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