CBE Awaits Sisi’s Approval on Suez Canal Certificate Draft Law

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Egypt’s President Abdel Fattah al-Sisi is expected to issue a draft law regulating the legal procedures related to the issuance of Suez Canal investment certificates which will be offered by the three public banks – the National Bank of Egypt, Banque Misr and Banque Du Caire – as well as Suez Canal.

The central bank’s Governor Hisham Ramez told Al-Ahram that the draft law shall state that the certificate period is five years, with a return of 12% to be paid every three months from the canal’s revenue.