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QNB Alahli offers 3-year certificate with return according to CONIA index

QNB Alahli offers 3-year certificate with return according to CONIA index

Arab Finance:  Qatar National Bank Alahli (QNB Alahli) has offered a certificate with a variable return for a tenor of 3 years calculated on the basis of the monthly average of the Central Bank of Egypt’s Cairo Overnight Index Average's (CONIA) price, according to Amwal Alghad

The value of the certificate can be redeemed at any time after passing 6 months from the date of issuance, based on the announced certificate redemption schedule.

There are no limits on the value or number of the certificates, the bank said. 

CONIA benchmark is an EGP risk-free rate based on the overnight interbank data collected by the CBE that shall serve as a reliable benchmark for price discovery and interest rate management

QNB Alahli posted a consolidated net profit before minority interest of EGP 4.098 billion in half one 2021.

QNB Alahli, formerly National Societe Generale Bank, is an Egypt-based bank that offers corporate and retail banking to corporate, and medium and small enterprises, as well as individuals. The bank is organized into three business segments: retail banking, corporate and investment banking, and Tawazon Fund.

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