Arab FinanceThe government banks of Egypt and the National Bank of Egypt reduced the interest rates on high-yield dollar savings certificates by 0.5 percentage points, according to what the two banks announced yesterday in Two statements Separated.
As a result, the return on the Al-Ahly Fawra and Al-Ahly Plus certificates decreased to 8.5% and 6.5%, respectively, while in Banque Misr, the return on the Summit and Elite certificates decreased to 8.5% and 6.5%, respectively.
as The two banks offered high-yield three-year dollar certificates in an effort to attract foreign currencies, especially from remittances from Egyptians working abroad.
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