Egypt and Al Ahly banks are offering new savings certificates with a return of 22%

Egypt: issuance of savings certificates to two banks with 22 and 19% interest

The two largest government banks in Egypt have issued savings certificates for 3 years with a return of 22 and 19 percent, official media reported today. The issuance of new savings certificates by the two banks comes a few days after the central bank raised key interest rates by 200 basis points, according to Reuters.

Egypt and Al Ahly banks are offering new savings certificates with a return of 22%

Al Ahly and Egypt banks have introduced new savings certificates with a fixed return of 19% and 22% decreasing for 3 years.