CIB Egypt offers Certificates of Deposit with distinctive return, following NBE, Banque Misr

The move makes CIB the third bank to raise the interest rate on CDs after the decision of Banque Misr and the National Bank of Egypt (NBE) to raise the interest to 22.5 percent as a monthly return and 25 percent as an annual return.

The bank stated that for new one-and-a-half-year CDs with a fixed return in Egyptian pounds, the interest was raised and became 20 percent paid monthly and 22.5 percent paid at maturity.