Arab Finance: Commercial International Bank Egypt (CIB), Egypt’s largest private lender, has issued new one-year certificates of deposit (CD) in US dollars, Asharq Business reported.
The CD is issued with a minimum purchase amount of $10,000, with an annual yield of 6%.
The deposit can be refunded at any time.
In July, the country’s two largest state-run banks, Banque Misr and the National Bank of Egypt (NBE) also introduced new CDs in USD.