Misr Life Insurance, National Bank of Egypt Issue 1st USD Pension Certificates for Expats

Misr Life Insurance and the National Bank of Egypt (NBE) jointly launched Maash Bokra “Future Pension,” the first USD pension certificates for Egyptians working overseas.  The certificates are available to individuals aged between 18 and 59 and have maturities ranging from five to 15 years. Certificate holders can choose the age at which they receive their […]

Dollar Price Rate Remains Stable at Egypt’s Major Banks

At the start of Sunday’s transactions at Egypt’s major banks, the US dollar’s value relative to the Egyptian pound was constant. The dollar exchange rate at the National Bank of Egypt (NBE) and Banque Misr was EGP 30.75 for purchasing and EGP 30.85 for selling. The dollar exchange rate at the Commercial International Bank (CIB) […]

Including HDB… Several Banks to Increase Loan Offerings

The banks were Banque Misr, the National Bank of Egypt (NBE), Banque du Caire, the Bank of Alexandria, the Housing and Development Bank (HDB), and  the Agricultural Bank of Egypt (ABE). The Ministry also agreed with the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) to provide technical support to project owners, train employees and […]

Egypt’s Commercial Bank launches 6 percent 1-year USD certificates in Egypt

The Commercial International Bank (CIB) introduced a new one-year USD-denominated certificate of deposit (CD) with a monthly yield of 6 percent. The minimum investment for the new CDs is $10,000, and clients can redeem them at any time, as per the bank’s statement.  Meanwhile, on July 26, the state-owned National Bank of Egypt (NBE) and […]

NBE, Banque Misr Issue New Dollar Saving Certificates

Earlier today, the National Bank of Egypt (NBE) and Banque Misr issued new three-year foreign currency saving certificates, finally catering to clients’ ongoing demands, seeking to transfer savings to dollar currency. According to the two banks’ statements, the dollar certificates will be available to issue as of Wednesday, July 26. The bank stated that the […]

CBE Lists Average Rates for Dollar, Euro, Sterling, Saudi Riyal

According to CBE, Early Sunday’s transactions at Egypt’s biggest banks showed that the exchange rate of the US dollar against the Egyptian pound remained stable. The Central Bank stated that the average dollar rate in the Egyptian market registered EGP 30.84 for buying and EGP 30.93 for selling. At the CIB, the dollar rate recorded […]