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Arab African International Bank issues 3-year 40% saving certificates

Ahram Online , Wednesday 26 Jul 2023

The Arab African International Bank (AAIB) has issued three-year certificates of deposit (CDs) with a 40 percent yield to be paid in advance, according to a statement on Wednesday.

Arab African International Bank.
Arab African International Bank.

 

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The minimum value of the new CDs is set at EGP 5,000 with EGP 1,000 increments without a maximum limit on value.

Holders are not entitled to partial redemptions.

On Tuesday, the National Bank of Egypt (NBE) and Banque Misr issued two US dollar-denominated annual-yield CDs with a maturity of three years to be available for purchase starting Wednesday.

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