Arab Finance: The National Bank of Egypt (NBE) has issued three-year certificates of deposit (CDs), with a declining annual interest rates of 30% for the first year of issuance, 25% for the second year, and 20% for the third year, Al Arabiya reported.

The bank has also adjusted the annual interest rates on the three-year Platinum CD to 26% for the first year, 22% for the second year, and 18% for the third year.

Moreover, it decided to adjust the interest rates on the three-year Platinum CD with the fixed annual rate to be 21.5%.

This came after the Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) increased the interest rates by 600 basis points (bps) at its special meeting on March 6^th.

Egypt to tap international debt market with 1st Eurobond sale since 2021 Updated 9/22/2024 4:23:00 AM

CEOs of NBE, Banque Misr to switch roles soon Updated 9/10/2024 8:17:00 AM

NBE increases foreign currency credit card limits Updated 9/10/2024 4:06:00 AM

NOSI, NBE, Fawry partner to activate e-payment mechanisms Updated 8/21/2024 3:05:00 PM

Egypt plans to issue EGP 2 coins within FY2024/25 Updated 8/19/2024 10:27:00 AM