Agriculture Bank’s yield of Aman Certificate is LE 12.6M

CAIRO – 14 March 2018: Chairman of Agriculture Bank of Egypt al-Sayed al-Kosair said that the bank issued 10,500 Aman certificates for temporary and seasonal workers with a total yield of LE 12.6 million ($713.66) since the issuance of the certificate.

Kosair referred in a statement to a national radio station that the bank witnessed a rise of the purchase turnout during the last day.

The Agriculture Bank issued 1650 Aman certificates for temporary and seasonal workers with a total outcome of LE 1.7 million in 48 hours.

Chairman of the National Bank of Egypt (NBE) Hesham Okasha said on March 7, that the bank issued 2,000 Aman Certificates for temporary and seasonal workers, with a total yield of LE 3.5 million in three days.

The segments of Aman Certificates are LE 500, LE 1,000, LE 1,500, LE 2,000 and LE 2,500. The duration of the certificate is three years at a rate of 16 percent, and it can be redeemed at any time.

Prime Minister Sherif Ismail affirmed on Thursday that the Aman Insurance Certificate for temporary employment has no procedures or administrative documents, adding that it is worth LE 500 and can be increased until it reaches LE 2,500.

Ismail clarified that the Aman Certificate’s monthly installment starts from LE 4, and its highest monthly installment is LE 20, with a benefit period of 5 years or 10 years.

On March 1, President Abdel Fatah al-Sisi ordered the completion of the procedures of the insurance policies for temporary and seasonal workers within 15 days.