Al-Ahly Bank of Egypt and Egypt collect 460 billion pounds from the 25% certificate

Books: Iman Al-Wasly and Fathi Al-Sayeh

Attracting National Bank of Egypt and Egypt An estimated proceeds of 480 billion pounds from the certificate of 22% since He put it up until the end of Sunday’s work. % of that proceeds came from outside the banking sector, pointing out that a number of customers gave up the dollar and other foreign currencies to purchase the certificate.

2023 Al-Etribi confirmed that the sale of the certificate will be stopped at the end of Tuesday’s trading, after achieving its target.

2023 And the National Bank of Egypt and Egypt had offered that certificate on January 4, and this certificate is issued for a period of one year, with an annual interest of 19 % disbursed at the end of the period, or 22. 5% disbursed monthly.

The two banks resorted to presenting this certificate with the aim of addressing inflation and attracting foreign exchange, within the framework of the role What the two banks play as they are the two largest government banks in the Egyptian market.

The certificate is issued in categories 1000 EGP and its multiples, and are available to adult and minor natural persons, Egyptians and foreigners.

2023 Interest is calculated from today The following certificate is purchased directly, and it is possible to borrow against its guarantee during the period, and it is not permissible to recover its value before the lapse of 6 months starting from the working day following the day of purchase, and the certificate is also retrieved at the end of its period at its full nominal value, and it can be recovered before that date according to the recovery values ​​established by the two banks.

In the same context, Al-Etrebi affirmed that there is a noticeable improvement in dollar resources, referring to the confidence of international institutions in the Egyptian economy and their return to investing in tools government debt again, pointing out that the existence of a single official market for the currency encourages attracting more investments.

The head of the bank Egypt indicated that there is a significant decrease in the volume of goods stacked in the ports, which means that these goods and raw materials will enter the factories, and thus the production wheel will return to To work and pump more goods into the market and thus lower their prices, which will lead to a decrease in inflation.