Arab Finance: Banque Misr’s proceeds from the sale of the new 25%-yield certificates of deposit (CDs) reached EGP 39 billion since Wednesday, January 4^th, the bank’s Chairman Mohamed El-Etreby told Middle East News Agency (MENA) on January 9^th.

The offering of the CDs with an interest rate of 25% aims at tackling inflation and dollarization, El-Etreby noted, referring to the high demand for purchasing these CDs by citizens.

On January 4^th, both Banque Misr and the National Bank of Egypt (NBE) announced the issuance of the new one-year CD with an annual interest rate of 25%; to be disbursed annually to purchasers.

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