After the Central Bank of Egypt’s decision to raise the interest rate, during its meeting last Thursday, news spread that the issuance of the 18% certificate had been canceled by the issuing banks, including Banque Misr and the National Bank.
And the Central Bank of Egypt decided to raise the interest rate by 2%, and immediately after that this news was spread on social networking sites, not only this, but there are other news that the Bank of Egypt issued a certificate with a higher return than the 18% certificate, which it issues under the name of a certificate. Talaat harb.
And all of this needed confirmation and proof, or denial and denial. Indeed, do we have to be the Chairman of the Board of Directors of Banque Misr, Mohamed El-Etreby, in press statements, revealing the truth of the matter during them.
Announcement – Continue reading below
El-Etreby stressed that Banque Misr continues to issue and sell Talaat Harb certificates, with a return of 18% for citizens, indicating that the interest rate will remain like this and there will be no increase in it.
Regarding the issuance of savings certificates at a rate of more than 18%, Banque Misr denied this matter, because this will burden the bank with an increased cost.
The proceeds of selling Talaat Harb certificates, with a return of 18%, increased to 216 billion pounds until today, Thursday, May 19, 2022, in the branches of Banque Misr.