The National Bank of Egypt (NBE) and Banque Misr announced on Monday that the proceeds of the one-year saving certificates with a 18 percent return, launched on March 21, amounted to EGP 499 billion.
The banks issued the certificates following an exceptional decision by the Central Bank of Egypt (CBE) last month to raise basic interest rates by 1 percent.
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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