The National Bank of Egypt Vice President, Yahya Abu El Fotouh, announced that the National Bank and Banque Misr continue to offer a savings certificate of 15% interest, which is the highest interest at the level of the banking system starting tomorrow and without stopping despite the Central Bank of Egypt fixed the interest rate for the third time.
The position regarding a 15% certificate in the National Bank of Egypt and the Bank of Egypt:
As the monetary policy committee in the Central Bank decided at its meeting the day before yesterday Thursday that the interest rate will be fixed for the third time after that step was taken twice before that in the last two meetings in April and last May at 9.25% for deposit and 10.25% for lending.
The Central Bank decided to cut interest rates exceptionally, by 3% in an emergency meeting on March 16th to confront the epidemic crisis. The crisis of the spread of the emerging Corona Virus as a benefit 19.
The National Bank of Egypt and Banque Misr began on the 22nd of last March that they had put the new certificate with a return that is considered the highest in Egypt, after the exceptional reduction decision from the Central Bank.
While Yahya Aboul Fotouh, deputy head of the National Bank of Egypt, said that the two banks continue to offer a high-yielding savings certificate, the aim of which is to give the depositors a greater chance to obtain a valuable return on their savings in pounds about the consequences of the epidemic.
In spite of the high cost of the certificate on both banks, they preferred the general interest of clients and the market to maximize their profitability, regarding their historical role in supporting and supporting the Egyptian economy.
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