Arab Finance: The National bank of Egypt (NBE) has received EGP 48 billion in proceeds from the sale of the new certificates of deposit (CDs) in one day, Asharq business reported on April 3^rd.

Meanwhile, Banque Misr has sold nearly EGP 19 billion worth of the new CDs, Al Mal News reported on April 3rd, citing the bank’s Chairman and Head of the Federation of Egyptian Banks Mohamed El-Etreby.

On April 2^nd, the largest two state-run banks, NBE and Banque Misr, started selling a new three-year CD at an annual interest rate of 22% to be paid in the first year, 18% for the second year, and 16% for the third one.

The lenders also offered another three-year CD with a fixed annual interest rate of 19%.

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