High-yield saving certificates of NBE, Banque Misr garner EGP 137 billions in gains

CAIRO, May 16 (MENA) - The new saving certificates issued by the National Bank of Egypt (NBE) and Banque Misr of 15-percent monthly return garnered 137 billion pounds since they were issued on March 22, the two banks said on Saturday.

Mohamed el Atrebi, Board Chairman of Banque Misr, told MENA that the bank sold certificates worth 43 billion pounds since the new certificates were issued.

They were also sold electronically as part of the preventive measures taken by the State to limit crowds to ban the spread of coronavirus, he added.

Yehia Abul Fotouh, Vice President of the NBE, said the bank sold 94-billion-pound worth certificates since they were issued.

The certificates were sold online or through the mobile banking application and the call center 19623, he added.

The two banks issued these certificates as part of measures to ease the economic repercussions of coronavirus outbreak.