Arab Finance: The Commercial International Bank (CIB) has issued the three-year Premium certificate of deposit (CD), with a fixed monthly interest rate of 22%, according to the bank’s website.

The minimum booking value for purchasing the certificate is EGP 5 million and multiples of EGP 1,000.

The bank has also offered the three-year Plus CD, with a fixed monthly rate of 21% and a minimum booking amount of EGP 1 million and multiples of EGP 1,000.

Moreover, it has started selling the three-year fixed Prime CD at a minimum booking amount of EGP 100,000 and multiples of EGP 1,000. The CDs carry a monthly interest rate of 20%.

CIB signed last week a cooperation protocol with the Egyptian Social Housing and Mortgage Finance Fund (SHMFF) to offer an EGP 3 billion mortgage finance to low and medium-income citizens.

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