Nasser Hussein
Mohamed El Atrbi, CEO of the National Bank of Egypt, said that the Alco Committee at his bank decided to adjust the rate of return on the platinum certificate in Egyptian pounds. Monthly Return 3 years to 17%.
He added that the bank adjusted the rate of return on platinum certificates with a monthly graded return to 21%, 16.75%, 13.5%, and annual return to 23%, 18.5%, 14%.
The President of the National Bank of Egypt confirmed that the new interest rates are scheduled to be effective from Monday, September 1.
The Monetary Policy Committee of the Central Bank of Egypt
This comes after the decision of the Monetary Policy Committee of the Central Bank of Egypt at its meeting on Thursday to reduce the rates of deposit and lending for one night and the price of the main operation of the Central Bank of Egypt by 200 basis points to 22.00%, 23.00% and 22.50%, respectively.
The Committee also decided to reduce the credit and discount rate by 200 basis points to 22.50%, where the decision of the Monetary Policy Committee reflects the assessment of the latest inflation developments and expectations since its last meeting.
