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EGP 86 bln collected from 15% saving certificate in 4 weeks: NBE, Banque Misr

MENA , Friday 17 Apr 2020
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 The revenues collected from selling the saving certificates, with the set 15 percent yield, hit EGP 86 billion in four weeks, Deputy President of the National Bank of Egypt (NBE) Yehia Aboul-Fottouh said in statements to official news agency MENA. 
 
Aboul-Fottouh said the bank had so far LE 58 billion collected  from 307 thousand clients, who bought the certificates.
 
Meanwhile, Deputy President of Banque Misr Akef El-Maghrabi said the bank had  collected EGP 28 billion from 117 thousand clients.
 
In March, Banque Misr and the National Bank of Egypt (NBE) offered new saving certificates with 15% annual yield. The two banks limited the certificate purchase to electronic channels to ensure the safety of customers and employees amid the spread of the Coronavirus.
 
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