Arab Finance: Commercial International Bank (CIB) has issued the three-year Wealth 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 3 million and multiples of EGP 1,000.
This move comes after the Central Bank of Egypt (CBE) raised interest rates by 200 basis points (bps) at its Monetary Policy Committee (MPC) meeting on March 30th.