{"id":596167,"date":"2019-08-20T04:00:44","date_gmt":"2019-08-20T04:00:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/20\/up-to-80-of-suez-canal-cds-to-be-reinvested-in-september-sources\/"},"modified":"2019-08-20T04:00:44","modified_gmt":"2019-08-20T04:00:44","slug":"up-to-80-of-suez-canal-cds-to-be-reinvested-in-september-sources","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/20\/up-to-80-of-suez-canal-cds-to-be-reinvested-in-september-sources\/","title":{"rendered":"Up to 80% of Suez Canal CDs to be reinvested in September: Sources"},"content":{"rendered":"

<\/a> Up to 80% of Suez Canal CDs to be reinvested in September -sources:<\/b> A large majority of Suez Canal certificate of deposits (CDs) holders will reinvest the money into new certificates after they mature on 4 September, analysts and bankers told Reuters\u2019 Arabic service<\/a>. Mona Moustafa, manager at internet stock trader Arabeya Online, said that up to 80% of CDs may be reinvested, while a small minority might put the money into real estate instead. An anonymous government bank analyst said that this was because of CDs\u2019 appeal among bank customers without investment experience. \"The holders of the Suez Canal investment certificates do not have the culture of investing in the stock market and their money is not the size that allows them to invest in real estate, so I expect the funds to enter again,\" the source said. The Suez Canal Authority raised more than EGP 60 bn in 2014 by offering five-year CDs to Egyptians at a 12% interest rate. The proceeds were used to fund the construction of the new Suez Canal and several new tunnels.<\/p>\n

The CBE could take the CDs into consideration when it meets Thursday to review interest rates.<\/b> \u201cThe central bank may resort to stabilization to preserve the source of debt income to the government and to ensure that the Suez Canal funds are not in the hands of the people, which may raise inflation,\u201d Moustafa said.<\/p>\n

But it\u2019s a \u201cweak possibility\u201d: <\/b>Shuaa Securities\u2019 Esraa Ahmed told Enterprise that there\u2019s a chance that the CBE will factor the CDs into their decision-making, but said that it\u2019s a \u201cweak possibility\u201d that it alone will persuade them to leave rates on hold. And the bank analyst said that a rate cut is unlikely to cause CD holders to bail out. \u201cAlthough interest rates are expected to decline at the next CBE meeting, this will not prevent the investment certificates' beneficiaries from reinvesting in certificates again because saving products are the best and safest place to invest,\u201d they said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Up to 80% of Suez Canal CDs to be reinvested in September -sources: A large majority of Suez Canal certificate of deposits (CDs) holders will reinvest the money into new certificates after they mature on 4 September, analysts and bankers told Reuters\u2019 Arabic service. Mona Moustafa, manager at internet stock trader Arabeya Online, said that […]<\/p>\n","protected":false},"author":1,"featured_media":596168,"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":[8572],"tags":[204,72,7087,125,2380,7103],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-banking","tag-enterpriseam","tag-finance","tag-investment-watch","tag-speed-round","tag-suez-canal","wpautop","entry"],"acf":{"mongo_id":"8589b6ee-086d-4bf4-9736-8f535a106617","is_powered_by":true,"section_story_id":"295dee7c-b57c-4c13-af03-a90efd937745","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/67.jpg","photo_position":"above","related_issue":[596157],"teaser":"","voice_url":""},"yoast_head":"\nUp to 80% of Suez Canal CDs to be reinvested in September: Sources - 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\/2019\/08\/20\/up-to-80-of-suez-canal-cds-to-be-reinvested-in-september-sources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Up to 80% of Suez Canal CDs to be reinvested in September: Sources\" \/>\n<meta property=\"og:description\" content=\"Up to 80% of Suez Canal CDs to be reinvested in September -sources: A large majority of Suez Canal certificate of deposits (CDs) holders will reinvest the money into new certificates after they mature on 4 September, analysts and bankers told Reuters\u2019 Arabic service. 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The Suez Canal Bank began paying clients as their certificates matured but most people preferred to re-invest, said Chairman Hussein\u2026","rel":"","context":"In "Banking + Finance"","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":594691,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/whats-going-on-with-egypts-repayment-of-the-suez-canal-certificates\/","url_meta":{"origin":596167,"position":1},"title":"What\u2019s going on with Egypt\u2019s repayment of the Suez Canal certificates?","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"What\u2019s going on with the Suez Canal certificate payments? 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Mamish, as was speculated, replaces Ahmed Darwish, who said he did not resign from his position, but that he respects El Sisi\u2019s wishes and vision,\u2026","rel":"","context":"In "Speed Round"","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":650812,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/10\/chevron-to-start-drilling-a-new-gas-well-soon-plus-news-from-nbe-raya-it\/","url_meta":{"origin":596167,"position":4},"title":"Chevron to start drilling a new gas well soon. 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