National Bank: 5 billion pounds, sales of the 15% certificate today … and a

05:38 PM

Sunday May 31, 2020

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I wrote – Manal Al-Masry:

Yahya Aboul Fotouh, Vice President of the National Bank of Egypt, told Masrawy that the bank’s sales of savings certificates with a high return of 15%, today achieved 5 billion pounds, so the total proceeds of the sale jumped from 105 billion pounds on the last working day to banks before the Eid al-Fitr holiday to 110 billion pounds On the first working day.

He pointed out that the total number of clients holding the certificate jumped to 630 thousand customers two months after its launch from the beginning of its issuance until the end of trading on Sunday.

On the 22nd of last March, Al-Ahly and Egypt banks began offering the new certificate with the highest return in Egypt, where the two banks sell the certificate electronically, i.e. through Internet banking or mobile banking services, in order to ensure that the two banks do not accumulate in their branches.

The certificate has a term of one year, and the periodicity of the return is spent monthly, which places it at the forefront of customer options at the level of certificates in banks.

Certification categories start from one thousand pounds and its multiples, and they are issued to natural or minor individuals. Borrowing can be done by guaranteeing the certificate, in addition to the possibility of issuing credit cards with the guarantee of the certificate.

The certificate can be redeemed after the lapse of 6 months from the business day following the date of purchase (the date of issuance), according to the redemption rules and the terms and conditions regulating.

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