Egypt: Banque Misr, NBE reduce interest rates on USD CDs

Banque Misr reduced interest rates on its high-interest USD certificates of deposit (CDs) by 0.5%, as per a statement.

Annual returns on the bank’s three-year Al Qema and Elite USD certificates were reduced to 8.5% and 6.5%, respectively.

Similarly, the National Bank of Egypt (NBE) has reduced interest rates on its high-interest USD CDs by 0.5%, Asharq Business reported, citing the bank.

Annual returns on NBE’s three-year Al Ahly Fawran and Al Ahly Plus USD certificates were reduced to 8.5% and 6.5%, respectively.

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