{"id":584566,"date":"2023-04-02T00:00:00","date_gmt":"2023-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/"},"modified":"2023-04-02T00:00:00","modified_gmt":"2023-04-02T00:00:00","slug":"this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/","title":{"rendered":"THIS EVENING: New high-yield CDs from Banque Misr and the National Bank of Egypt"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, wonderful people.<\/span><span style=\"\"> It\u2019s a busy start to the new week (and month, and<\/span><span> quarter), even though many of us are still slogging through the Ramadan fog.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Big Two roll out new high-yield CDs:<\/span><span style=\"\"> Banque Misr and the National Bank of<\/span><span> Egypt \u2014 the nation\u2019s two largest banks \u2014 introduced three-year certificates of deposit (CDs) following the Central Bank of Egypt\u2019s Monetary Policy Committee\u2019s decision last week to raise interest rates by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story?storyId%3Db5e369b3-1d8e-471e-8ddf-2424ef9488d3%26title%3DTHIS%2520MORNING:%2520CBE%2520makes%2520first%2520rate%2520hike%2520of%25202023%2520%2520%25E2%2580%2594%2520but%2520no%2520further%2520EGP%2520deval%2520yet\" style=\"\">200 bps<\/a><\/span><span>, the state-owned banks said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/NBE-Banque%2520Misr_statement_CDs_02042023_43.pdf\" style=\"\">a joint statement (pdf)<\/a><\/span><span>. The certificates include a fixed-rate 19% CD and a second carrying an annual declining rate of 22%, 18%, and 16%. Both CDs have a monthly payout. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The banking crisis continues to lead the conversation in the international business press<\/span><span style=\"font-weight:700\"> this afternoon:<\/span><span> UBS\u2019 takeover of Credit Suisse continues to get play, as Switzerland\u2019s prosecutor kicks off an investigation into the acquisition (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/7c87b958-139c-49dc-9740-4c11c88b737a\" style=\"\">Financial Times<\/a><\/span><span>) and the new entity formed following the takeover is looking at slashing up to 30% of its workforce (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/deals\/up-30-jobs-be-cut-by-enlarged-ubs-tages-anzeiger-reports-2023-04-02\/\" style=\"\">Reuters<\/a><\/span><span>). Meanwhile, OPEC is expected to hold off on raising oil output levels as the oil market is still shaky as a result of the fallout from the collapse of Silicon Valley Bank and Credit Suisse\u2019s troubles (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-02\/opec-to-hold-its-ground-amid-oil-tumult-caused-by-bank-crisis?srnd%3Dpremium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The CBE did exactly what everyone expected on Thursday:<\/span><span> The Central Bank of Egypt (CBE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story?storyId%3Dd48e529f-df57-429c-ac77-650747100ba1\" style=\"\">raised interest rates<\/a><\/span><span style=\"font-weight:400;\"> by 200 bps on Thursday in a bid to rein in inflation.<\/span><\/li>\n<li><span style=\"font-weight:700\">The automotive industry can\u2019t catch a break right now:<\/span><span> The yearlong decline in auto sales <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story?storyId%3Ddcdec126-9dcd-40d8-afc1-a6e569b9b295\" style=\"\">accelerated in February<\/a><\/span><span style=\"font-weight:400;\"> as the foreign currency shortage continues to weigh on the sector.<\/span><\/li>\n<li><span style=\"font-weight:700\">NPH raises its bid for Pachin:<\/span><span> Dubai-based National Paints Holding (NPH) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/news\/story?storyId%3Df4c14caf-b153-4cab-a0e4-44ac6935e442\" style=\"\">has upped its offer<\/a><\/span><span style=\"font-weight:400;\"> for EGX-listed Paint and Chemical Industries (Pachin) in response to Eagle Chemicals\u2019 new bid last week.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Inside Industry day \u2014<\/span><span style=\"font-weight:700\">your weekly briefing of all things industrial in Egypt.<\/span><span style=\"font-weight:400;\"> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In today\u2019s issue:<\/span><span style=\"\"> In the first part of this two-part story, we look at why our local tire industry is<\/span><span style=\"font-weight:400;\"> falling behind, and how that issue has been compounded by a range of underlying factors beyond the immediate impact of inflation and the FX shortage.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">? CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #1- Start planning the next run of holidays<\/span><span style=\"font-weight:700\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Coptic Easter falls on Sunday, 16 April;<\/span><\/li>\n<li><span style=\"font-weight:400;\">Sham El Nessim is on Monday, 17 April;<\/span><\/li>\n<li><span style=\"font-weight:400;\">Eid El Fitr should land on or around Friday, 21 April (it\u2019s still not clear what days will be official holidays);<\/span><\/li>\n<li><span>Tuesday, 25 April, is Sinai Liberation Day, for which we\u2019ll likely have a day off on Thursday, 27 April. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">PSA #2- Need funding for a green project? You can now apply to the second round of<\/span><span style=\"font-weight:700\"> the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.sgg.eg\/\" style=\"\">Smart Green Projects Initiative<\/a><\/span><span style=\"font-weight:700\"> until the end of May<\/span><span>, according to a Planning Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/pfbid0375YBtTRtbVg6GATmMeemsRG7zf8o8xkL5fvcKmiMASVxzpqHtrnrJ3xfRuzHKxzml\" style=\"\">statement<\/a><\/span><span>. Eligible projects must use technology solutions to address environmental issues, present evidence of feasibility or innovation, and provide a written acknowledgement that no awards have been received during the initiative\u2019s first round, among other requirements. You can view the full list of criteria <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgg.eg\/?fbclid%3DIwAR1GjyqVHMFF4wPCgoMXQAaYMnNHXsTXj6sA_Prw-7XUrSRT_1LVBMfDi4Q%23Conditions\" style=\"\">here<\/a><\/span><span> and apply <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgg.eg\/Home\/SignUp_EgyGreenInnovation\" style=\"\">here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">We\u2019re heading into a pretty warm couple of days, with the<\/span><span> mercury expected to peak at 31<\/span><span style=\"font-weight:400;\">\u00b0C before falling to a low of 18\u00b0C tomorrow, according to our favorite weather app. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/632.jpg?ssl=1\"\/><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We are delighted to share with you that the Enterprise Exports & FDI Forum <\/span><span style=\"\">will be taking <\/span><span style=\"\">place on<\/span><span style=\"font-weight:700\"> Monday, 15 May <\/span><span style=\"\">at the<\/span><span style=\"font-weight:700;\"> Four Seasons Hotel at Nile Plaza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DO YOU WANT TO ATTEND?<\/span><span style=\"\"> The first wave of invites is going out soon. If you\u2019re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">TAP OR CLICK HERE<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">to request a spot at this exclusive event<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO SHARE YOUR STORY ON STAGE?<\/span><span> Drop a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:patrick@enterprisemea.com\" style=\"\">Patrick here and let\u2019s talk<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people. It\u2019s a busy start to the new week (and month, and quarter), even though many of us are still slogging through the Ramadan fog. THE BIG STORY TODAY Big Two roll out new high-yield CDs: Banque Misr and the National Bank of Egypt \u2014 the nation\u2019s two largest banks \u2014 introduced [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":584567,"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":[7213],"tags":[576,633,248,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-banque-misr","tag-enterprisepm","tag-national-bank-of-egypt","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"80c74e69-8007-468e-8939-e86132dc1ba5","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/1\/755.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[584564],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.11f6cd42-95a2-49b5-a0d9-10508e9f2b31.mp3"},"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>THIS EVENING: New high-yield CDs from Banque Misr and the National Bank of Egypt - 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\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: New high-yield CDs from Banque Misr and the National Bank of Egypt\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people. It\u2019s a busy start to the new week (and month, and quarter), even though many of us are still slogging through the Ramadan fog. THE BIG STORY TODAY Big Two roll out new high-yield CDs: Banque Misr and the National Bank of Egypt \u2014 the nation\u2019s two largest banks \u2014 introduced [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/755.jpg?fit=%2C&ssl=1\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS EVENING: New high-yield CDs from Banque Misr and the National Bank of Egypt\",\"datePublished\":\"2023-04-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\"},\"wordCount\":741,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/755.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Banque Misr\",\"EnterprisePM\",\"National Bank of Egypt\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/04\/02\/this-evening-new-high-yield-cds-from-banque-misr-and-the-national-bank-of-egypt\/\",\"name\":\"THIS EVENING: New high-yield CDs from Banque Misr and the National Bank of Egypt - 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The high-yield savings products were introduced to the market on 4 January ahead of the EGP devaluation to help curb inflation\u2026","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\/2023\/1\/444.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648092,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/28\/banque-misr-blom-bank-raise-interest-rates\/","url_meta":{"origin":584566,"position":1},"title":"Banque Misr, Blom Bank raise interest rates","author":"enterpriseam admin","date":"28 May 2017","format":false,"excerpt":"Banque Misr and Blom Bank have raised interest rates on loans and certificates of deposit following the CBE\u2019s decision to hike rates by 200 bps last week, Al Shorouk reports. Blom Bank increased interest on short-term CDs by a maximum of 200 bps, and is studying doing the same for\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":601068,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/banks-follow-central-bank-of-egypts-lead-with-interest-rate-cuts\/","url_meta":{"origin":584566,"position":2},"title":"Banks follow Central Bank of Egypt\u2019s lead with interest rate cuts","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"Major state-owned banks followed the CBE\u2019s lead by cutting interest rates on their changing-yield certificates of deposit (CDs) but left interest on their platinum CDs unchanged, Mubasher news services reported. 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":614118,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/savers-pour-egp-471-bn-into-high-yield-cds-plus-mining-tender-subsea-cable-incoming\/","url_meta":{"origin":584566,"position":3},"title":"Savers pour EGP 471 bn into high-yield CDs. PLUS: Mining tender + subsea cable incoming.","author":"enterpriseam admin","date":"28 January 2024","format":false,"excerpt":"Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM\u2019s","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\/1\/2244.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570846,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/national-bank-of-egypt-banque-misr-sell-egp-82-bn-of-high-yield-certificates\/","url_meta":{"origin":584566,"position":4},"title":"National Bank of Egypt, Banque Misr sell EGP 82 bn of high-yield certificates","author":"enterpriseam admin","date":"16 April 2020","format":false,"excerpt":"State banks sell EGP 82 bn of high-interest savings certificates: National Bank of Egypt has sold EGP 56 bn of its 15% fixed-rate certificates, including EGP 4 bn in one day, Deputy Chairman Yehya Aboul Fotouh tells Masrawy. Banque Misr has also sold EGP 26 bn of the certificates, Deputy\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578632,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/newly-introduced-25-cds-see-massive-demand-in-first-two-days-big-two-bag-usd-700-mn-facility\/","url_meta":{"origin":584566,"position":5},"title":"Newly introduced 25% CDs see massive demand in first two days + Big Two bag USD 700 mn facility","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"The newly released 25% certificates of deposit have raked in almost EGP 100 bn in a matter of days \u2014 and the two state banks offering them have reportedly secured a major loan to meet local demand for hard currency.Savers poured nearly EGP 100 bn into newly introduced record-high yield\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/113.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584566","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=584566"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584566\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/584564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/584567"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=584566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=584566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=584566"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=584566"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=584566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}