Arab Finance: State-run banks the National Bank of Egypt (NBE) and Banque Misr have started selling a new one-year certificate of deposit (CD) at an annual interest rate of 27% which will be disbursed annually, Asharq Business reported on January 4th.
The lenders also offered the same CD at an annual interest rate of 23.5%, which will be disbursed monthly.
The certificates are available at the banks' branches across the country starting January 5th.
The CDs are issued to Egyptians and foreigners with a minimum purchase amount of EGP 1,000.