The National Bank of Egypt (NBE), Banque Misr, and Banque du Caire will issue a certificate of deposit (CD) programme to the domestic market in US dollars, high-ranking banking officials told Daily News Egypt.

Officials said the three banks are also preparing to issue a CD programme in euros for Egyptians living in Europe.

Chairman of Banque Misr Mohamed Al-Etreby said the US dollar CD will have a maturity date of three years and will have an interest rate of 4.25%. The euro CD will have a five-year maturity date and will have an interest rate of 5.25%.

Chairman of Banque du Caire Mounir El-Zahid confirmed the news, as did another source at the NBE.