The new savings term deposit certificates of 25 percent that were announced the other day have seen quick large deposits. The certificates are only offered for a limited period and aims to reduce inflation. Mohamed al-Etreby, President of Banque Misr and President of the Federation of Egyptian Banks said that LE24 billion have been collected from the certificates within two days of their issuance. Deposit Interest rates rose in 2016 and decreased again gradually, Etreby said, in a phone call to the “Facts and Secrets” program, on the “Sada Al-Balad” satellite channel, adding that the Ukrainian war caused an increase in inflation in the whole world. The inflation rates in the US have reached
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