A few minutes after the bank announcement Central Egyptian By raising the interest rate by 2%, the National Bank of Egypt has decided to issue a platinum certificate for a period of 3 years with an annual yield of approximately 17.25% and the yield is paid annually.
The Bank’s Active and Passive Committee also resolved to increase the yield rate of the 3-year platinum certificate with monthly yield, to become a yield of 16% per annum instead of 14%, to date, for new or automatically renewed certificates.
In addition, the bank issued the same certificate at a rate of 16.25% per annum on a periodic quarterly return and at the rate of 16.5% per annum on a periodic semiannual return.
In the same context, Banque Misr has decided to issue a platinum certificate for a period of 3 years, with an annual yield of approximately 17.25%, and the yield is paid annually. The Bank’s Active and Passive Committee also resolved to increase the yield rate of the 3-year platinum certificate with monthly yield, to become a yield of 16% per annum instead of 14%, to date, for new or automatically renewed certificates.
Last March, following the extraordinary meeting of the Central Bank of Egypt, Al-Ahly and the Egyptian banks decided to issue investment certificates with an annual yield of 18%, as part of the reduction of the volume of liquidity available on the market Egyptian, to stop the wave of inflation in the country.
The targeted 18% certificates reached an amount of around £ 755 billion with the two banks, as the proceeds from the 18% certificate amounted to £ 515 billion at the National Bank of Egypt and £ 240 billion at the National Bank of Egypt. Banque Misr from its issue on 21 March until the end of the works on 30 May.
