C. Bank Will Offer Tomorrow Suez Canal Investment Certificates

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Central Bank of Egypt (CBE) announced for offering Suez Canal’s investment certificates tomorrow, National Bank of Egypt(NBE), Banque Misr, Banque Du Caire and Suez Canal Bank will participate in the certificates, Said Hisham Ramez, CBE’s Governor.

The five-year investment certificate will have a 12% interest rate and quarterly dividends every 3 months in 10, 100, 1000 categories  through coordinating between the issued banks and the revenues of other banks, Ramez added.

Clients of the four issuing banks will start on Thursday purchasing the certificates which the government seeks to collect EGP 60 billion to finance digging, road, tunnel works in the project which aims at boosting the volume of trade through the fastest trade maritime route between Asia and Europe.

Suez Canal Bank Chairman and Managing Director Tarek Kandil confirmed that certificates will be issued to all branches.

The certificate will be exclusive for Egyptians individuals and companies.