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The National Bank of Egypt decided to reduce the interest rate or return on the three-year platinum certificates, whose return is paid monthly to 11% annually instead of 12% annually. (Quarterly).
Banque Misr also decided to reduce the interest rate or return on the three-year summit certificates, whose returns are paid monthly to 11% annually instead of 12% annually. It also decided to stop issuing the three-year summit certificate, but the proceeds are disbursed every three months. Quarterly).
Bearing in mind that the existing certificates will continue at the same price applicable to them until their maturity date, and the implementation will be on new certificates issued following this decision.
This follows the decision of the Monetary Policy Committee of the Central Bank of Egypt in its meeting Thursday, to maintain the rates of deposit and lending for one night and the rate of the main operation of the central bank at the level of 8.25%, 9.25% and 8.75%, respectively. As well as keeping the credit and discount rate at 8.75%.
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The situation in Egypt
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Injuries
128,993
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Recovered
108,474
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Mortality
7,260
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