The Bank of Egypt today raised the price of the 3 -year summit issuance for the summit with an annual return of 17. 25% and the return is paid annually, and the bank’s assets and liabilities committee decided to increase the price of the return on the 3 -year summit certificate with a monthly return to become 16% annually instead of 14%and applied It only applies to newly issued or automatically renewed certificates, and the bank that issued the certificate set the price at 16.
25% yearly during the period of the quarterly return exchange, and the bank that issued the certificate charged a fee of $16.50. This is accessible, and the certificate’s value is recovered in accordance with the certificate recovery criteria.
Certificates can be purchased from any branch of the bank that number more than 800 branches and a banking unit spread throughout the Republic, or through the application of the BM Online bank and ATM machines, which number more than 4000 machinery.
The certificate categories start at 1,000 Egyptian pounds and its difficulties, and the return is determined as of the date of the workday that follows the date of certificate acquisition. Certificates are provided to natural persons or the palace.
It is also possible to borrow with the guarantee of the certificate in addition to the possibility of issuing various credit cards as well as the possibility of recovering the value of the certificate after 6 months have passed from the work day following the day of purchase (the date of issuance).
The triple certificate’s price has raised to 13.5% from 11.5% with a variable return.
5 % (whether for certificates already existing before this date or the certificates purchased as of this day) (whether for certificates already existing before this date or the certificates purchased as of this date).
The interest rate was raised by 200 basis points by the Central Bank of Egypt on Thursday during an emergency meeting of the bank’s monetary policy committee, bringing it to 13.25 and 14.25 percent, the credit and discount price to 13.75, and the primary currency to 13.75 percent.
This was ascribed by the central bank as supporting medium-term price stability.
According to the Central Bank, the forces of supply and demand acting within the framework of a flexible exchange rate system will determine how much the Egyptian pound will exchange for in relation to other currencies if sustainable economic growth is achieved.
The three-year savings certificate’s (the summit’s) yield has increased by Banque Misr to 17.25% per year.
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