Record high savings certificate achieve nearly EGP 500 bn since it's issuance

 Yahya Aboul Fotouh,Executive Board Member & CEO of The National Bank of Egypt National Bank, confirmed that savings certificates with 25% yield were suspended, after achieving their goal, explaining that the bank collected approximately 315 billion pounds in 26 days.

He also explained that the total proceeds of the 25% certificate collected nearly EGP 500 billion, adding that Banque Misr collected more than EGP 160 billion since it issuance at the beginning of the month.

He said in a phone call to a famous talkshow on MBC Egypt: “So far, there will be no issuance for no new saving Vessels, and we are awaiting the Central Bank’s meeting scheduled for next Thursday.”