Arab Finance: The National Bank of Egypt (NBE) and the Commercial International Bank Egypt (CIB) have both trimmed interest rates on their new issuances of certificates of deposit (CDs) by 1%.
NBE also suspended the issuance of USD-denominated CDs with prepaid interest in Egyptian pounds.
The CIB sent an SMS to its customers announcing changes to interest rates on savings accounts.
"Please note that, starting May 26th, 2025, interest rates on savings accounts in Egyptian pounds will be updated,” the text noted.
Likewise, Banque Misr implemented the same decision on May 27th.