Arab Finance: Banque Misr will suspend the issuance of its one-year Talat Harb fixed-return certificates of deposit (CDs), which carry an annual interest rate of 27%, starting Sunday, April 27th.

The decision comes alongside a broader adjustment to the bank’s interest rates, following the Central Bank of Egypt’s (CBE) move to cut rates during its Monetary Policy Committee (MPC) meeting on April 17th.

The bank’s assets and liabilities committee (ALCO) approved a 2% reduction in the return on the three-year "Ibn Misr" declining-return certificate, affecting all maturity periods.

The fixed-return "Triple Summit" certificate will also see its interest rate drop by 2%. 

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