The Sector Head and Hotel Development at one of the Tourism and Hotels companies, Heba El Desouky, exclusively shared with the Top50 Women Forum her honest opinion and raw thoughts regarding the recent Dollar saving certificates offered by NBE and Banque Misr.
She was seemingly impressed by the Banks’ move as she expressed her thoughts on how this could be a huge investment opportunity for individuals and, by extension, the Egyptian state.
She stated: As part of the government’s attempt to solve the economic crisis primarily centered on the shortage of US dollars, as well as export hurdles and other obstacles; approaches and solutions must have been applied to make dollars more attainable in the country.
That’s why the National Bank of Egypt and Bank Misr’s decision to offer these new high-return three-year certificates that guarantee such an attractive return is the reasonable approach.
El Desouky continued: Those who have savings should consider investing them to protect their funds from the inflation rate, considered the highest that has ever been seen in Egypt, which would risk dramatically decreasing the value of their saved dollars. Investing those savings in these certificates is a viable investment option and the smart choice to benefit from the certificate’s high return.
One should also be thinking about the investment cycle of the return of these certificates and thus plan ahead the investment of savings and its returns which is more important to create an investment cycle.
While there may be challenges related to exporting and traveling due to the dollar crunch, these certificates offer a reliable option for investment.
She finally concluded: For all those reasons, I think we need to consider our investment portfolio carefully over the upcoming period. That includes both companies and individuals. Any returns from these investments should be reinvested into profitable sectors such as real estate, tourism, or the hotel industry.
And that will ensure a good return on our investments for individuals, corporates, and organizations.