After Al-Ahly and Egypt banks canceled the certificate with a return of 18% in the past days, many other banks appeared that serve as a tool for investment, and also many investors and owners of savings resorted to it as one of the available alternatives, including certificates with a return of 14%, with a duration of up to 14% for three years, and it is one of the most prominent other alternatives that carry many advantages for savers with almost the same return.
Raising the interest rate to regarding 200 basis points
On May 19, the Monetary Policy Committee of the Central Bank of Egypt decided to raise the interest rate to regarding 200 basis points, and it reached 11.25% and 12.35% last March, and on March 21 it surprised Egyptian Central Bank It increased interest rates to 100 basis points, which is the first time it has moved since its rise in July 2017, and many want to obtain this certificate for an annual return.
move the exchange rate
In the midst of many continuous increases in the interest rate, which came in conjunction with the movement of the exchange rate, as well as the decline of the pound once morest the dollar by regarding 15%, and this was followed by the fact that both Al-Ahly and Egypt banks submitted certificates of exception with the same return of 18% for a period of only one year, and this is by imposing compensation for depositors and addressing inflation. These are the certificates that were suspended on May 30, 2022, and also following collecting more than 700 billion pounds, and offering certificates with a return of 4% and a term of up to 3 years as one of its alternatives.