Four banks offer highest return on dollar savings certificates in Egypt

Four Egyptian banks announced raising the interest rate in the middle of 2023 on dollar savings certificates at a high rate that was considered the highest at the level of the banking system Egypt to counter the US Federal Reserve’s decision to raise interest rate on the dollar.

Dollar savings certificates or savings certificates in foreign currency in general is a bank investment certificate with a medium or long-term deposit starting from three years up to seven years. The Egyptian banking sector provides a number of dollar savings certificates with a fixed periodic return.