CIB Egypt issues 5.25 percent CDs in three Arab Gulf currencies
The Commercial International Bank (CIB) announced on Tuesday the issuing of new three-year-maturity savings Certificate of Deposits with a 5.25 percent annual yield in the currencies of three Arab Gulf countries - the Saudi Arabian riyal, the Qatari riyal and the United Arab Emirates's dirham.
Commercial International Bank (CIB). Photo : Al-Ahram
According to the CIB’s official website, the bank allows the sale of certificates for individual and corporate customers with a minimum purchase amount of 5,000 and multiples of 1,000.
There are more than 2.5 million Egyptians in Saudi Arabia, 600,000 in the UAE and 150,000 in Qatar, according to recent government estimates.
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