The National Bank of Egypt (NBE) and Banque Misr announced that the proceeds of the one-year saving certificates with a 18 percent return, launched on March 21, amounted to EGP 423 billion by the end of the day and in a span of two weeks.
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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.
Meanwhile, Board Chairman of Banque Misr Mohamed el Atribi told MENA that the bank garnered EGP 138 billion in proceeds from the new high-yield savings certificates by the end of today’s transactions and during two weeks.
