Why have NBE and Banque Misr introduced new CDs? ...Egypt

EGYPT INDEPENDENT - Economy
Why have NBE and Banque Misr introduced new CDs?
source : EGYPT INDEPENDENT ( Egypt ) () 70
Economist Ashraf Ghorab explained the reasons behind why the National Bank of Egypt, and Banque Misr are offering two certificates of deposits online with a return of 23.5 percent per month and 27 percent per year for a period of one year, starting Friday. This was an expected move, he said, especially following the the expiration of the terms of CDs offered by the two banks with a 25 percent return, which matured at the beginning of this January. Regarding the reasons for offering new savings certificates, Ghorab added that the expiration of the 25 percent certificate offered by the two banks in the beginning of last year and depositors receiving their entitlement may prompt them to invest

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