Saving certificates in Arab currencies is a new product in Egyptian banks
The Commercial International Bank – Egypt (CIB) announced the issuance of new savings certificates in 3 Gulf currencies: the Saudi riyal, the UAE dirham and the Qatari riyal, with an annual return rate of 5.25%.
The Commercial International Bank stated, on its website, that savings certificates in Gulf currencies are issued with a maturity of 3 years, and the annual return on them is 5.25%, and is paid monthly.
The Commercial International Bank stated that the minimum purchase amount for saving certificates in Gulf currencies is 5000 and multiples of a thousand for Saudi riyals, UAE dirhams and Qatari riyals.
The bank also made available the “Classic” current account product in the three Gulf currencies, with a minimum amount of 1,000 to open the account for Saudi riyals, UAE dirhams and Qatari riyals.
Savings certificates in Arab currencies are a new product in the certificates market in foreign currencies, as banks provide certificates and savings accounts in dollars, euros and pounds sterling.