National Bank of Egypt and Banque Misr to open on Friday, Sunday to sell 25% saving certificates

NBE announced on Thursday that 140 of its branches nationwide will be opened on both Friday (from 2 PM to 6 PM) and on Sunday (from 9 AM to 3 PM). The bank will only serve clients interested in buying the new saving certificates and those who want to exchange foreign currencies.

BM also announced that 126 of its branches will be opened on both days during the same time for the same purposes.

Friday is an official weekend holiday in Egypt; whereas Sunday is a paid holiday for both the public and private sector on the occasion of Coptic Orthodox Christmas which falls on 7 January.

Both State-owned banks announced on Wednesday that they were issuing new one-year maturity saving certificates with a 25 percent yield after one year, the highest yield on record in Egypt so far.

The new certificates are also available at a 22.5 percent yield for monthly disbursement.

Since the annou