Banque Misr raises rates on USD certificates to 5.25%

Big 5

Egypt’s second biggest state-owned bank, Banque Misr has raised the interest rates on its three-, and five-year dollar-dominated certificates of deposits, its chairman Mohamed El-Etreby told Amwal Al Ghad Wednesday.

The interest rate on the three-year certificate was raised to 4.25 percent, and the interest rate on the five-year certificate was raised to 5.25 percent.

Earlier this month, Banque Misr issued dollar-denominated certificates for Egyptians living abroad with maturities of one, three and five years, with minimum value for the certificates will be $100.