Bank Misr Introduces New Savings Certificates Ahead of Key CBE Rate Decision

CAIRO – Bank Misr has launched new savings certificates offering a fixed monthly return of 17% and declining yields starting at 23%, as the Central Bank of Egypt (CBE) prepares for its upcoming interest rate meeting.

Monetary policymakers are scheduled to convene next Thursday to assess Egypt’s economic performance and inflation rates. This review comes amid current high interest rates, which stand at 21% for deposits and 22% for lending.

The new offerings from Bank Misr include several savings certificates:

• Al-Qimma Certificate: This certificate provides a 17% monthly yield over a three-year term. Purchases begin from EGP 1,000.
• Ibn Misr Certificate: The “Ibn Misr” certificate features a tiered annual return, with 20.5% in the first year, 17% in the second year, and 13.50% in the third year. Payouts are monthly, and the minimum purchase is EGP 1,000.
• Youmati Variable-Yield Certificate: Offering a daily interest payout at 20.75%, the “Youmati” certificate has a three-year term. The minimum purchase amount is EGP 1,000.