[ad_1]
11:46 a. M.
Monday 21 September 2020
I wrote – Manal Al-Masry:
The National Bank of Egypt and Egypt decided to stop any new issuance of a one-year savings certificate with a return of 15% as of Monday.
Those who have already purchased the certificate from one of the two banks from the beginning of its issuance on March 22 and until the end of yesterday’s transactions will continue to receive the agreed refund according to the terms of the certificate until the end of its term naturally and not it has nothing to do with the decision of the two banks, which refers only to new issues.
The National Investment Bank also reduced the interests of several investment certificates that it issues as of today, since the interests of the investment bank certificate (B) with terms of one year decreased by 3.75% to reach 10, 25% instead of 14%, and the profitability is paid monthly.
Interest decreased 3.5% on the two-year investment bank certificate (B), to 10.5% instead of 14% annually, with the return paid quarterly.
The interest decreased by 2.5% on the investment bank certificate (B), which has a maturity of 3 years, to register 10% instead of 12.5%, the return is paid every three years.
Interest on the investment certificate (D) for companies decreased by 0.5% to 10.75% annually instead of 11.25% annually.
Interest decreased by 0.5% on the cumulative investment certificate (A) maturing in 10 years, to 10.25% instead of 10.75%.
Likewise, those who bought any of these certificates until the end of Sunday transactions can enjoy their return before the reduction decision until the end of each certificate.
