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2 clusters · 3 sources · 13 days · First seen · Last updated

Egyptian banking sector savings certificate offerings

Overview

Egyptian banks have introduced various savings certificate options to provide competitive returns for customers following interest rate stabilization.

Initially, Commercial International Bank (CIB) offered several three-year products, including a premium fixed-rate certificate with an 18% annual return paid monthly, and variable-rate certificates with daily or monthly payouts linked to Central Bank of Egypt rates.

Subsequently, other institutions expanded these offerings. United Bank launched a three-year certificate providing a 40% upfront return of the certificate value. Banque Misr introduced multiple products, such as the ‘Al Qemma’ certificate with monthly or quarterly returns, the ‘Ibn Misr’ certificate featuring a declining return structure over three years, and cumulative certificates offering a total return of 66.56% after three years.

Entities

Central Bank of Egypt · United Bank · Egypt · Commercial International Bank · Banque Misr

Timeline

  1. 3 days ago

    [BUSINESS] 2 sources
    Egyptian banks launch new savings certificates with competitive returns

    Egyptian banks, including United Bank and Banque Misr, are launching new savings certificates with various return structures, ranging from upfront 40% payouts to declining annual rates.

  2. 15 days ago

    [BUSINESS] 2 sources
    CIB Egypt offers new savings certificates with varying interest rates

    Commercial International Bank (CIB) in Egypt has introduced several savings certificate options, including fixed and variable rate products with returns ranging from 17.5% to 19.5%.

Sources

aqarlight.com · bnokonline.com · elaosboa.com