Arab Finance: The National Bank of Egypt (NBE) will stop issuing certificates of deposit (CDs) with a 27% return starting next Sunday, April 27th, according to the bank’s CEO Mohamed El-Etreby.
El-Etreby said the decision was made by the bank’s asset and liability committee (ALCO), which also approved a 2% reduction in the interest rate on three-year platinum certificates across all terms.