National Bank of Egypt decides to reduce the interest of the platinum certificate by 1%

Hisham Okasha, Chairman of the Board of Directors of the National Bank of Egypt, said that the Assets and Liabilities Committee of the National Bank of Egypt decided today to reduce the annual return on its 3-year platinum certificate by 1%, starting with the issuance that takes place after the end of work today, Thursday, December 24, 2020, to become 11% ؜ annually for certificates whose returns are paid monthly instead of 12% annually.

The Chairman of the National Bank of Egypt added, in exclusive statements to Al-Youm Al-Sabea, that it was decided to stop issuing the platinum certificate (three years) that the return was paid every three months, and in the event that the customer previously chose the automatic renewal of the certificate with a quarterly return, its value will be renewed. Upon maturity in the platinum certificate with periodic monthly return, with the existing certificates continuing at the applicable rate until their maturity date.

The Chairman of the Board of Directors of the National Bank of Egypt stated that this decision comes against the background of improvement in economic performance and low levels of inflation, with the aim of the bank to keep depositors of the highest return on their savings, pointing to the continuation of the platinum certificate with variable returns without modification in light of the decision of the Monetary Policy Committee At the Central Bank of Egypt today, the deposit and lending rates remain unchanged.

– .