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Elham AbolFateh

Business

EGP 16 mln total yields of Aman certificates in a week

Monday 12/March/2018 - 04:51 PM
Sada El Balad
Hassanein Tayea
Three Egyptian banks، including، Banque Misr، Banque Du Caire and the Agricultural Bank of Egypt yielded about EGP 16 million returns of Aman certificates in its first weeks.
Chairman of Banque Du Caire، Tarek Fayed، said that the bank issued 1600 certificates for temporary and seasonal workers، with a total yield of EGP 2.2 million in a week.
Chairman of Agriculture Bank of Egypt al-Sayed al-Kosair said that the bank issued 5136 certificates for temporary and seasonal workers، with a total yield of EGP 6 million in a week.
Vice Chairman of the National Bank of Egypt (NBE) Yehia Abul Fotouh said that the bank issued 4،000 Aman Certificates for temporary and seasonal workers، with a total yield of LE 8 million ($453،242) in a week.

Abul Fotouh added that Aman Certificates sales rose coinciding with the increased awareness about the certificate.

Chairman of NBE Hesham Okasha referred in a statement to a national radio station on that the bank issued 2،000 Aman Certificates for temporary and seasonal workers، with a total yield of EGP 3.5 million in three days.

Okasha clarified that there are 420 branches for purchasing the certificate، representing the entire network of branches of the NBE، as well as branches of Banque Misr، Banque Du Caire and the Agricultural Bank of Egypt.
The segments of Aman Certificates are LE 500، LE 1،000، LE 1،500، LE 2،000 and LE 2،500. The duration of the certificate is three years at a rate of 16 percent، and it can be redeemed at any time.

Prime Minister Sherif Ismail affirmed on Thursday that the Aman Insurance Certificate for temporary employment has no procedures or administrative documents، adding that it is worth LE 500 and can be increased until it reaches LE 2،500.

Ismail clarified that the Aman Certificate’s monthly installment starts from LE 4، and its highest monthly installment is LE 20، with a benefit period of 5 years or 10 years.

On March 1، President Abdel Fatah al-Sisi ordered the completion of the procedures of the insurance policies for temporary and seasonal workers within 15 days.

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