banque misr
The NBE said transactions in the highly yield certificates will terminate at the end of this month.
El-Etreby affirmed earlier that the NBE and Banque Misr’s resort to offering this certificate aims to address inflation and attract foreign exchange, within the framework of the role played by the two banks as the two largest government banks in the market.
On January 4, Banque Misr and the National Bank of Egypt (NBE) announced the launch of a one-year saving certificate with an annual interest of about 25 percent.
The return of the certificate is paid at 25 percent interest at the end of the term, or at a monthly rate of 22.5 percent.
Banque Misr receives TRAILBLAZING TELCO ACQUIRER – MENA Award for fastest growing acquirer in Ecommerce for Mobile Network Operators in the Middle East from Mastercard International.
Banque du Caire joins the shareholding of IBAG, Western Union's first agent in Egypt, after purchasing a stake from Al Ahly Capital Holding - the National Bank of Egypt’s investment arm and Banque Misr.
The first technical assistance programme will further strengthen credit risk management and adoption of SME financing best practice to enable Banque Misr to increase financing for smaller companies.
The 18 percent saving certificates achieved an amount of about LE 750 billion in the two banks, as the proceeds of the 18 percent certificate amounted to LE 515 billion at the National Bank of Egypt and LE 240 billion at the Banque Misr since its issuance on March 21 until the end of work today, Monday.
The banks issued the certificates following an exceptional decision by the Central Bank of Egypt (CBE) last month to raise basic interest rates by 1 percent.
According to the statement, the share that Banque Misr purchased in Banque du Caire belongs to the share of Misr Capital Company.
The certificates were offered on the back of an exceptional decision by the Central Bank of Egypt (CBE) to raise the base rates by 1 percent.
The certificates were offered on the back of an exceptional decision by the Central Bank of Egypt (CBE) to raise the base rates by 1 percent.
The dollar renunciation rates of the two banks rose to more than 50 percent compared to the previous day.
Deputy Chairman of the NBE Yehia Abul-Fotouh said that the ALCO committee at the NBE held an emergency meeting Monday, during which a decision was taken to issue a new saving certificate for one year.
Minister of Communication and Information Technology Amr Talaat and Board Chairman of Banque Misr Mohammed El Etreby witnessed the signing ceremony.
Driven by the desire to fulfill the goals of financial inclusion and digital transformation, the banking sector services are now expanded to include both financial and non-financial services, Antabli said.
In a statement published on its official Facebook page, the bank noted a fraud that occurred in a branch of it in the city of Samalout, located in Minya Governorate, but did not provide details in the statement.
That was in IPAs Africa Forum 1 held in Sharm El Sheikh on June 11-14.
Deputy Chairman of Banque Misr Akef El Maghraby said that ATMs across the country are fed with cash during the holiday of Eidul Fitr.
The US dollar exchange rate was stable during Monday's transactions at Egypt's major banks recording EGP 15.61 for buying and EGP 15.74 for selling.
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