By: Mostafa Adel

Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) is not considering raising interest rates for the Suez Canal certificates of deposit, the deputy finance minister for the public treasury, Mohammed Meit told Mubasher.

Meit added in a phone call with Mubasher that such a decision has not been discussed yet, after the recent decision by the the Central Bank of Egypt (CBE) to raise interest rates by 200 basis points.

In November, the finance minister announced that the return on these five-year CDs has been raised to 15.5% for the remaining three years, after the CBE increased interest rates by 3%.