Proceeds from 1st day of Egyptian banks issuing CDs at LE11 billion ...Egypt

EGYPT INDEPENDENT - Economy
Proceeds from 1st day of Egyptian banks issuing CDs at LE11 billion
source : EGYPT INDEPENDENT ( Egypt ) () 34
The proceeds of the new certificates of deposits, offered by the National Bank of Egypt and Banque Misr on Friday with returns of 23.5 percent and 27 percent, recorded LE 11 billion on the first day. Heavy demand of Egyptians for these CDs continues via mobile banking and the Internet. Banking experts advised customers to also invest long-term in gold and real estate, and for short-term investment with a monthly or annual return, recommended CDs with a return of 23.5 percent and 27 percent as the best. The President of Banque Misr, Mohamed al-Etreby, said that the bank collected proceeds worth four billion LE, and NBE collected about seven billion LE. He explained that the two banks offered

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