Emirates NBD mulls issuing saving certificates with 20% interest rate

Emirates National Bank of Dubai (Emirates NBD) Egypt is currently studying issuing new saving certificates in Egyptian pounds with a 20% interest, said the bank's Deputy Managing Director Sahar el Damati. 

The bank is waitining for the approval of the Central Bank of Egypt to issue this certificate, she added in statements to MENA. 

The National Bank of Egypt, Banque Misr, and Banque du Caire have launched 18-month certificates with a 20% interest.

Damati, meanwhile, hailed the measures taken by the CBE to combat the black market. 

The CBE's decision to liberalize the exchange rate will contribute to flowing foreign investments to Egypt, she further said. 

She also hailed the successful and effective steps taken by President Abdel Fattah El Sisi to promote investments.