Banque Misr, NBE maintain interest on savings vessels

Banque Misr, NBE maintain interest on savings vessels

Proceeds of NBE's various savings certificates increase by over EGP 230bn since mid-2020 The Assets and Liabilities Committee (ALPCO) at Banque Misr has decided to maintain the return on all local currency saving and deposit certificates, including the El Tholatheya Certificate with a monthly return of 11%. The move comes in light of a decision by the Monetary Policy Committee (MPC) at the Central Bank of Egypt (CBE) to keep the rate of deposit and lending at 8. 25% and 9. 25%, respectively. The MPC decision, taken last Thursday, will also see the CBE's credit, discount, and main operation rates remain at 8. 75%. Meanwhile, Yahia Aboul Fotouh, Vice Chairperson of the National Bank of Egypt (NBE), confirmed that the bank will continue to issue its Platinum Certificate with a high yield of 11%. In a statement to the MENA news agency, Aboul Fotouh said that high-yield platinum certificates with a term of up to three years are highly popular with customers. He also said that the proceeds of various types of certificates have increased by more than EGP 230bn since 30 June 2020, which reflects the intensity of demand. Moreover, the NBE has decided to add investment certificates Group