NBE: 15% yield certificates to be available via online banking service to curb coronavirus spread

CAIRO 20 March 2020: The National Bank of Egypt (NBE) announced that its 15-percent-yield saving certificates will be available through the online channel, the mobile banking application and the call center 19623 for new clients.

In a statement on Friday, of which MENA got a copy, said that this decision was taken as the area designated for clients in the different branches of the bank will not accommodate all clients and falls within the State's measures to curb the spread of coronavirus.

Earlier in the day, Banque Misr has decided to confine buying its 15-percent-yield saving certificates to the online channel, the mobile banking application, the contact center, e-mails or via transfers from other banks for new clients.

In statements to MENA, chairman of Banque Misr Mohamed el Etreby said the bank decided to reject cash deposits as a means of buying the certificate to preserve the health of its clients amid the spread of the novel coronavirus.

On Thursday, the National Bank of Egypt (NBE) and Banque Misr decided to issue new saving certificates as of Sunday with a yield of 15 percent.