Egyptians to Get Annual Interest Rate of 12% for Suez Canal Investment CertificatesSource: www.export-egypt.com 8/16/2014, Location: Africa |
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Governor of the Central Bank of Egypt (CBE) Hisham Ramez said that the decision of Egyptians’ participation in establishing the New Suez Canal was taken by President Abdel-Fattah El-Sisi.
Ramez pointed out that the investment certificates that will be issued by the National bank of Egypt, Banque Misr and Banque du Caire will have an annual interest rate of 12% that will be cashed every three months. Ramez pointed out that this certificate will allow holders to borrow under its guarantee from the banking sector describing interest rate on the certificate as the highest in the Egyptian banking market. |
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