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New CDs Issued by National Bank of Egypt and Banque Misr Offer Up to 27% Returns

The National Bank of Egypt (NBE) and Banque Misr, Egypt's two largest governmental banks, have introduced two new Certificates of Deposit (CDs) offering record-breaking interest rates. The first offers an annual interest rate of up to 27 percent, while the second provides a monthly return of 23.5 percent. The purchase of these certificates begins on ....

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How is the Ban on Debit Card Usage in Foreign Currency Affecting Egyptian Startups?

“If I cannot pay for these infrastructural services from my own Egyptian bank, then I can't really operate in Egypt. So I might as well just look for an environment where I can actually use my money however I please.” This is what Ramy Kandil, a 33-year-old Egyptian entrepreneur had to say about the recent ....

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Co-op Bank, joins Equity, KCB as top 30 biggest lenders in Africa

This is according to the annual ranking for 2023 released last week ....

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The Central Bank of Egypt: From the 1960s Until Today

This is the third article in the series 'Egyconomy' by Egyptian Streets, where Marina Makary explores current trends and debunks popular misconceptions surrounding the Egyptian economy. Only few people know that the Central Bank of Egypt (CBE) was not always the regulatory body responsible for the monetary and banking system as well as price stability ....

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CIB Issues One-Year, High-Yielding Dollar-Deposit Certificates at 6 Percent Interest

The Commercial International Bank (CIB), one of Egypt's leading private banks, has introduced on 3 August a high-yielding, one-year USD-denominated certificate of deposit (CD) with a monthly interest rate of six percent. According to the bank's website, the minimum investment amount for these new CDs is USD 10,000 (EGP 309,461), and customers have the flexibility ....

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