Personal savings dominate Suez Canal certificates’ purchases: Baseera

Around 42% of the citizens that purchased Suez Canal investment certificates relied on money they saved at their homes or shops, the Egyptian centre for public opinion research Baseera illustrated in its latest poll.

Baseera added that 38% used bank savings, 13% used savings they had at Egypt Post, and 4% sold properties they previously had, such as cars and gold.

Last Sunday, Governor of Central Bank of Egypt Hisham Ramez stated that EGP 64bn, $8.5bn, were collected within eight days of the certificates’ issuance, adding that the total value of purchases that came from outside the banking sector was EGP 27bn.

He mentioned that the CBE allowed purchases through Egypt post for two days, explain that around 25,400 persons purchased certificates and some EGP 730m was collected.

Baseera stated that 2009 citizens were surveyed, 53.3% from rural areas while 46.7% from urban areas and all above 18 years-old. Around 48.3% of respondents were male while the remaining 51.7% were females.