Moataz Abbas wrote:
Mohamed El-Etreby, Chairman of Banque Misr, expected a high demand from citizens for dollar certificates after raising the return on them by 100%, compared to the previous one, which is in line with raising interest rates globally, as the certificate was offered for periods of 3 or 5 years and granted quarterly and a half returns. and annual.
Al-Etrebi said, during a telephone interview with the “A Last Word” program, broadcast on the “OnE” satellite channel, today, Sunday, that raising the return on the new dollar stability certificates for a period of 3 years to reach 5.30% annually, and 5.25% semi-annually, and 5 20% quarterly, 5.15% per month, with a minimum of $100 and its multiples, which can be saved through all bank branches or through the Internet.
He stressed that the new certificate comes in line with the conditions of the global market, adding: “There are people who put their money in their homes, and this may give them an incentive to save in banks.”
As for the Egyptians abroad, he explained that there was a certificate presented to them under the name “My Country” and the return on it will be adjusted in line with the same for Egyptians at home, stressing that we cannot distinguish between the Egyptian who lives abroad and the one who lives inside. In the certificates, we will By equalizing interest rates according to the new variables, we will add some advantages to Egyptians abroad.
Regarding the source of financing the return on the certificate, he indicated that any of our clients who have dollar deposits and savings have not affected the returns that he gets for a day, and they are protected returns and obtained by the Egyptian client residing abroad, and the returns will be financed from the available dollar liquidity, which is large and covers everything.