National Bank of Egypt, Banque Misr Issue New High Yield Deposit Certificates ...Egypt

Egypt’s Central Bank in Cairo | REUTERS The National Bank of Egypt and Banque Misr announced the issuance of two new certificates of deposit (CDs) for a period of three years on Sunday, 2 April, reflecting the Central Bank of Egypt’s policy to target inflation. The first certificate is fixed for a period of 3 years at a rate of 19 percent annually, and the return is paid monthly. The second certificate is for a period of 3 years at an annual rate of 22 percent for the first year, 18 percent for the second year, and 16 percent for the third year, and the return is paid monthly. Egypt’s annual inflation skyrocketed this year, reaching 31.9 percent, its highest in five and a half years. It demo

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