The NBE has also decided to increase the return on another 3-year Group B investment certificate. The certificate’s annual return was originally 12%, which has now risen to 12.5%, to be paid every three months.
Farhet Misr Fund should be subject to supervision by Central Auditing Organization (CAO), says banking expert Basant Fahmy
Cooperation protocol between the Suez Canal Authority, banks and the Ministry of Finance expected to be signed on Tuesday.
Government has yet to announce official date for investment certificates
The official expected the certificates to collect between EGP 30bn and EGP 40bn
Investment certificates expected to encourage investors with higher-than-average interest rates
