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Thursday, 16 June 2016

Foreign currency CDs yield USD 850 mn for NBE, Banque Misr

FX certificates of deposit issued to foreign currency holders by Banque Misr and NBE have yielded a combined USD 850 mn, including the converted EGP holdings with an interest rate of 15%, in addition to three-, five-, and seven-year CDs and the USD-denominated Belady certificates, Al Mal reported. The foreign currency holder certificate yielded USD 55 mn for Banque Misr and was issued again due to demand, Banque Misr Chairman Mohamed Eletreby said, while the rest of FX CDs yielded USD 200 mn.

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