Tuesday 29 March 2022
I wrote – Manal Al-Masry:
Yahya Aboul Fotouh, Vice President of the National Bank of Egypt, said that the bank will continue to sell the high-return certificate of 18% during the month of Ramadan, with the same current steps from branches, Internet service and mobile banking without change after adjusting the working hours of banks.
Aboul Fotouh added to Masrawy that there is no change in the method of selling the high-return certificate from bank branches during the month of Ramadan, with the change in official working hours starting from the holy month.
And the Central Bank of Egypt announced, in a statement yesterday, Monday, the working hours for the banking sector during the holy month of Ramadan for the year 2022, and it starts from nine thirty in the morning until one thirty in the afternoon for customers.
Aboul Fotouh stated that the 18% savings certificate with a high return is available, and we will not stop selling it until all customers have the opportunity to purchase it to obtain a rewarding return on investment in the pound.
The sale of the savings certificate with an interest rate of 18% in Al-Ahly and Egypt banks attracted a record high at the end of transactions yesterday, Monday, reaching 267 billion pounds during the first 8 days of its issuance, according to officials in the two banks to Masrawy.
Last Monday, Al-Ahly and Egypt Banks decided to offer a new savings certificate with a high interest rate, after the Central Bank announced that the interest rate was raised by 1% for the first time in 5 years, and the price of the pound fell against the dollar.
Branch officials in Al-Ahly Bank and Egypt said that selling an 18% certificate to customers is available through branches and call centers, as well as the Internet banking.
The 18% certificate is the highest interest offered at the level of the banking system after the 20% that was offered in November 2016.