Egypt: Banque Misr suspends USD-denominated Al-Qema CDs, cuts return on EGP certificates
Arab Finance: The Assets and Liabilities Committee (ALCO) at Banque Misr has decided to suspend the issuance of dollar-denominated Al-Qema savings certificates (CDs) with prepaid interest in Egyptian pounds.
The committee also decided to reduce the return on EGP saving certificates by 1%.
these decisions are effective as of Tuesday, May 27th, 2025.
This move follows the Central Bank of Egypt's (CBE) decision to cut key interest rates by 100 basis points (bp).
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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