Arab Finance: Al Baraka Bank Egypt has offered the Diamond Plus certificate of deposit (CD) for sale, with an annual variable return of no less than 19%, the bank announced on April 5th.
The minimum purchase amount of the CD is EGP 1,000 with return disbursed monthly.
On April 2nd, state-run banks the National Bank of Egypt (NBE) and Banque Misr have 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.
Commercial International Bank (CIB) has recently issued the three-year Wealth certificate of deposit (CD) with a fixed monthly interest rate of 22%.