Banque Misr receives 250 mln pounds from high-yielding certificates

Banque Misr received 250 billion Egyptian pounds ($141 billion) from the high-yielding Talaat Harb certificates of deposit it offered for individuals, said vice president of Egypt’s second biggest bank Akef el Maghrabi.

The tenure of Talaat Harb certificate with a 20 percent interest rate is 18 months recording 190 billion Egyptian pounds, he added.

As for the other high-yielding Summit Certificate with a 16-percent interest rate, the official said their revenues are estimated at 60 billion pounds.

He also unveiled plans by Egyptian banks to issue new savings certificates with a periodical revenue to some segments of society in implementation of directives of President Abdel Fattah el Sisi.