Banque Misr and Al-Ahly reduce the interest rate of the certificates and cancel others

The National Bank of Egypt decided to lower the interest rate or yield on the three-year platinum certificates, the yield of which is paid monthly at 11% ؜ per annum instead of 12% per annum. (Quarterly).

Banque Misr also decided to reduce the interest or return rate on the three-year summit certificates, whose returns are paid monthly at 11% per year instead of 12% per year. It also decided to stop issuing the three-year summit certificate, but the proceeds are paid every three months. Quarterly).

Taking into account that the existing certificates will continue at the same price that is applicable until their expiration date, and the implementation will be in the new certificates issued after this decision.

This follows the decision of the Monetary Policy Committee of the Central Bank of Egypt at its meeting on Thursday, to keep the rates of return on deposits and overnight loans and the central bank’s main operating rate at 8.25%, 9.25%. and 8.75%, respectively. In addition, maintaining the credit and discount rate at 8.75%.