Arab Finance: Banque Misr will stop the issuance of the 25%-yield Talaat Harb certificates of deposits (CDs) within days as the offering achieved its aim, the bank’s Chairman Mohamed El-Etreby told Asharq Business on January 16th.
The sale of the CDS will be suspended maximum by the end of January, he noted.
On January 4th, both Banque Misr and the National Bank of Egypt (NBE) announced the issuance of the new one-year CD with an annual interest rate of 25%; to be disbursed annually to purchasers.