Cairo – Mubasher: The National Bank of Egypt (NBE) and Banque Misr have issued one-year certificates of deposit at an annual interest rate of 25%, which will be disbursed annually, Akhbar El-Yom reported on Wednesday.

The banks added that the annual return of these certificates can be adjusted to 22.50% in case of monthly disbursement. 

The certificates are available at the banks’ branches across the country, or online. 

In December 2022, the Monetary Policy Committee (MPC) raised the Central Bank of Egypt’s (CBE) deposit rate, overnight lending rate, and the rate of the main operation by 300 basis points (bps) to 16.25%, 17.25%, and 16.75%, respectively. The discount rate was also raised by 300 bps to 16.75%.