An employee carries money at an exchange office in downtown Cairo – Reuters/Amr Dalsh
CAIRO - 22 March 2022: National Bank of Egypt and Banque Misr announced that the proceeds of the one-year saving certificates with a return of 18 percent, which were launched by the two banks on March 21, amounted to more than LE 13 billion on the first day of their issuance.
The dollar renunciation rates of the two banks rose to more than 50 percent compared to the previous day.
Vice Chairman of the Board of Directors of the National Bank, Yahya Aboul Fotouh, said that the proceeds of savings certificates with a return of 18 percent, amounted to LE 8 billion on the first day, while the increase in the proceeds of waiving the dollar in the bank amounted to 30 percent and 50 percent in Al-Ahly Exchange Company alone.
For his part, Akef El-Maghraby, Vice President of Banque Misr, said that the proceeds of the 18 percent certificates in the bank amounted to LE 5 billion on the first day, while the increase in the proceeds of waiving the dollar amounted to 50 percent compared to the previous day.
On Monday, the National Bank of Egypt (NBE) and Banque Misr decided to issue a one-year new saving certificate, with a return of 18 percent.