A large number of citizens are interested in the 18% certificate, which is issued by a number of banks, most notably Banque Misr and the National Bank, because the certificate’s return is the largest return in the banking market today.
Banque Misr issued an important statement regarding this certificate, coinciding with the waiting for the meeting of the Central Bank of Egypt, which is scheduled for next May 19, and the concern of most of the interest rates.
Mohamed El-Etreby, Chairman of Banque Misr, stated that the proceeds of selling the 18% certificates, which the bank issues under the name of the new Talaat Harb certificate, rose significantly.
El-Etreby said that the sale of the 18% certificate in Banque Misr has risen to 205 billion pounds so far since its launch last March.
Banque Misr had reissued the Talaat Harb Certificate, which is a savings certificate that enjoys a fixed rate of return for the duration of the certificate’s retention period, and the annual certificate’s return rate is 18%.
The duration of the certificate is one year, and the return is paid monthly. The period is calculated from the business day following the purchase.
The certificate categories start from 1,000 pounds and its multiples, and are issued to natural individuals or minors.