The National Bank of Egypt (NBE), Banque Misr, and Banque du Caire will offer savings certificates to Egyptians in pounds sterling under the name “Belady Certificate” within days.

During 2016, the three governmental banks offered Belady Certificates in both euros and US dollars in order to attract remittances from Egyptians abroad.

The certificates are to be issued with a 1% interest rate for one year, 1.25% for three years and 1.375% for five years.

Nabila Makram Ebeid, minister of immigration and egyptian expatriates’ affairs, revealed in her statements a few days ago the approval of the Central Bank of Egypt (CBE) of the ministry’s request to issue these certificates.