{"id":550316,"date":"2022-10-23T03:36:05","date_gmt":"2022-10-23T03:36:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/"},"modified":"2022-10-23T03:36:05","modified_gmt":"2022-10-23T03:36:05","slug":"high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/","title":{"rendered":"High-interest CDs are all the rage + rare earths in Egypt get global attention"},"content":{"rendered":"<p><strong>Banks are issuing high-interest CDs to help them cushion the impact of the CBE\u2019s <\/strong><strong>new reserve requirements. <\/strong>A number of banks have issued three -year certificates of deposit (CDs) at interest rates of between 13.5-15.0%, including QNB Al Ahli, <a href=\"https:\/\/www.mashreqbank.com\/en\/egypt\/personal\/accounts\/certificate-of-deposits\/egp-certificate\/\">Mashreq Bank<\/a>, Banque Misr, <a href=\"https:\/\/www.nbe.com.eg\/NBE\/E\/#\/EN\/ProductCategory?inParams=%7B%22CategoryID%22%3A%22LocalCertificatesID%22%7D\">National Bank of Egypt<\/a>, <a href=\"https:\/\/www.ca-egypt.com\/en\/personal-banking\/save\/long-term-savings\/certificates-of-deposit\/\">Credit Agricole<\/a>, and the <a href=\"https:\/\/www.aaib.com\/en\/pages\/Emerald-Certificates-of-Deposits\">Arab African International Bank<\/a>, <a href=\"https:\/\/www.asharqbusiness.com\/article\/43079\">Bloomberg Asharq<\/a> reports.<\/p>\n<p><strong>IN CONTEXT- Last month, the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cbe8656-38d2-4f13-864a-26e3fccc24fa\">central bank bumped up<\/a><\/strong><strong> its reserve requirement <\/strong>for all banks to 18% from 14%. The reserve ratio regulates how much capital commercial banks are required to hold in their reserves. \u201cThe rise in costs in light of the CBE's decision to increase the reserve ratio pushed banks to issue certificates with competitive returns to attract deposits exempt from the ratio,\u201d one banking official is quoted as saying.<\/p>\n<p><strong>MEANWHILE- Rare earths in Egypt are getting attention after last week\u2019s announcement that a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d80e22e3-62c3-4e1f-b12b-ee9ad27a2813\">\u201cblack sands\u201d project<\/a><\/strong>, executed by a unit of Hassan Allam Holding for the military, had been completed. <strong>Fortescue Future Industries<\/strong> will send a team to Egypt to explore<strong> investments<\/strong> in our <strong>mining <\/strong>sector, with a particular interest in rare earth elements and minerals including silica, used to produce solar panels. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ag9dJz9Rp7eapU3ckVRWL2oZ3ngBv6yTR194e55uCWUT2jYKQYwU1oQjMQHKK61Cl\">Statement<\/a>)<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Telecom Egypt<\/strong> said in an EGX filing that it has not received any official bids for its minority stake in <strong>Vodafone Egypt<\/strong>, publicly stating what a company source <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c6426c-0b5d-4302-aeb2-74226e86a276\">told us<\/a> last week. Press reports had claimed that Qatar\u2019s sovereign wealth fund is in advanced talks to buy up 20% of the company. (<a href=\"https:\/\/ent.news\/2022\/10\/Telecom-Egypt-has-yet-to-receive-an-official-bid-from-Qatar.pdf\">Disclosure, pdf<\/a>)<\/li>\n<li>Fintech startup <strong><a href=\"https:\/\/www.paymint-eg.com\/\">PayMint<\/a><\/strong> could become the <strong>official payment platform<\/strong> for the soon-to-be-launched <strong><a href=\"http:\/\/www.egycomex.com\/\">Egycomex<\/a><\/strong><strong> commodities exchange<\/strong> after reportedly signing a partnership agreement with the EGX. (<a href=\"https:\/\/bit.ly\/3yXgxvT\">Al Mal<\/a>)<\/li>\n<li>French container giant <strong>CMA CGM<\/strong> has announced a new <a href=\"https:\/\/www.cma-cgm.com\/news\/4176\/overweight-surcharge-ows-from-the-indian-subcontinent-middle-east-gulf-red-sea-egypt-to-the-us-east-coast-us-gulf-canada-east-coast?cat=tariffandsurchargeupdates\">USD 500 \/ TEU<\/a><a href=\"https:\/\/www.cma-cgm.com\/news\/4176\/overweight-surcharge-ows-from-the-indian-subcontinent-middle-east-gulf-red-sea-egypt-to-the-us-east-coast-us-gulf-canada-east-coast?cat=tariffandsurchargeupdates\">overweight surcharge<\/a> on containers heading <strong>from Egypt to the US and Canada<\/strong> that weigh more than 20 tons.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Banks are issuing high-interest CDs to help them cushion the impact of the CBE\u2019s new reserve requirements. A number of banks have issued three -year certificates of deposit (CDs) at interest rates of between 13.5-15.0%, including QNB Al Ahli, Mashreq Bank, Banque Misr, National Bank of Egypt, Credit Agricole, and the Arab African International Bank, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,204,1432,72,2303,212,238,208],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550316","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-cds","tag-enterpriseam","tag-fortescue-future-industries","tag-telecom-egypt","tag-tourism","tag-transport-ministry","wpautop","entry"],"acf":{"mongo_id":"cfb44bca-ce55-4630-ac8e-21b4f3b09257","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[550294],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>High-interest CDs are all the rage + rare earths in Egypt get global attention - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High-interest CDs are all the rage + rare earths in Egypt get global attention\" \/>\n<meta property=\"og:description\" content=\"Banks are issuing high-interest CDs to help them cushion the impact of the CBE\u2019s new reserve requirements. A number of banks have issued three -year certificates of deposit (CDs) at interest rates of between 13.5-15.0%, including QNB Al Ahli, Mashreq Bank, Banque Misr, National Bank of Egypt, Credit Agricole, and the Arab African International Bank, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-23T03:36:05+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"High-interest CDs are all the rage + rare earths in Egypt get global attention\",\"datePublished\":\"2022-10-23T03:36:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\"},\"wordCount\":327,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"banking\",\"CDs\",\"EnterpriseAM\",\"Fortescue Future Industries\",\"Telecom Egypt\",\"tourism\",\"Transport Ministry\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/high-interest-cds-are-all-the-rage-rare-earths-in-egypt-get-global-attention\/\",\"name\":\"High-interest CDs are all the rage + rare earths in Egypt get global attention - 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National Bank of Egypt and Banque Misr cut interest to 16% from 17% on CDs with changing yields linked to\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630205,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/state-owned-banks-scrap-high-yielding-cds-introduce-new-variable-interest-certificates\/","url_meta":{"origin":550316,"position":1},"title":"State-owned banks scrap high-yielding CDs, introduce new variable interest certificates","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"The country\u2019s largest state-owned banks have decided to scrap their high-yielding certificates of deposits two weeks after the central bank cut key interest rates by 100 bps. Banque Misr stopped issuing its high-yielding 17% CDs as of last Thursday, Vice Chairman Akef El Maghraby said, while the National Bank of\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":665918,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/26\/canadas-borna-plans-to-set-up-usd-40-mn-factory-for-decarbonization-tech\/","url_meta":{"origin":550316,"position":2},"title":"Canada\u2019s Borna plans to set up USD 40 mn factory for decarbonization tech","author":"enterpriseam admin","date":"26 May 2025","format":false,"excerpt":"PLUS- Banque Misr and the National Bank of Egypt could soon cut interest rates on CDs","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1261.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616565,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/07\/banks-roll-out-high-interest-rate-cds-ease-currency-controls-on-credit-cards\/","url_meta":{"origin":550316,"position":3},"title":"Banks roll out high interest rate CDs, ease currency controls on credit cards","author":"enterpriseam admin","date":"7 March 2024","format":false,"excerpt":"The parallel market is \u201con its way to disappearing completely,\u201d Banque Misr Chairman Mohamed El Etreby said","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/572.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665995,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/27\/banque-misr-nbe-trim-interest-rates-on-cds\/","url_meta":{"origin":550316,"position":4},"title":"Banque Misr, NBE trim interest rates on CDs","author":"enterpriseam admin","date":"27 May 2025","format":false,"excerpt":"PLUS- LC Wakiki\u2019s local agent Tema is planning to add 45 new stores to its branch network in Egypt","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2173.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651767,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/","url_meta":{"origin":550316,"position":5},"title":"Banks begin reducing rates on high-yield CDs","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. Only National Bank of Egypt and Banque Misr have kept their products\u2019 interest rates at 20%, with sources\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550316"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550316\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550294"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550316"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550316"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}