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Elham AbolFateh

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Banque Misr announces EGP 250 bln net proceeds of high-yielding certificates

Monday 12/February/2018 - 02:49 PM
Sada El Balad
Hassanein Tayea
Akef el Maghrabi، vice president of Banque Misr said that the bank received EGP 190 billion from the high-yielding Talaat Harb certificates of deposit it offered for individuals.

Talaat Harb is an Egyptian financier who founded Banque Misr at the beginning of the last century to provide necessary funds for national economic development.

The tenure of Talaat Harb certificate with a 20 percent interest rate is 18 months، he added.

As for the other high-yielding Summit Certificate with a 16-percent interest rate، the official said their revenues are estimated at EGP 60 billion.

He unveiled plans by Egyptian banks to issue new savings certificates with a periodical revenue to some segments of society in implementation of directives of President Abdel Fattah el Sisi.

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