{"id":684218,"date":"2026-03-04T00:00:00","date_gmt":"2026-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=684218"},"modified":"2026-03-04T04:21:26","modified_gmt":"2026-03-04T04:21:26","slug":"citizen-bonds-egp-2-bn-first-week-debut-shows-banks-may-have-to-raise-rates-to-keep-depositor-base","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/04\/citizen-bonds-egp-2-bn-first-week-debut-shows-banks-may-have-to-raise-rates-to-keep-depositor-base\/","title":{"rendered":"Citizen Bonds\u2019 EGP 2 bn first week debut shows banks may have to raise rates to keep depositor base"},"content":{"rendered":"

The recently debuted Citizen Bond brought in EGP 2 bn in just its <\/strong>first week<\/strong>, a government official tells EnterpriseAM. By bypassing traditional banking channels and offering the bonds directly to citizens, the Finance Ministry is looking to diversify and restructure its local debt, economist Hany Abou El Fotouh tells us.<\/p>\n

Much of this is fresh liquidity targeting government debt<\/strong>, with the bonds primarily attracting those with traditional bank deposits and older people without the risk appetite for stocks, Evolve Holding CEO Sameh El Torgomon tells EnterpriseAM. Liquidity in the EGX shouldn\u2019t be affected by the bonds in any meaningful way, he added. <\/p>\n

Why this matters: <\/strong>Banks have long enjoyed a comfortable carry trade, taking low-cost deposits and lending them on at a margin. If the Citizen Bond scales \u2014 the appetite seems to be there \u2014 banks might be tempted to raise their own rates to stay competitive with the offering\u2019s current 17.75% return.<\/p>\n

It\u2019s unlikely, however, that savers will break with their current savings certificates to buy <\/strong>the new bonds<\/strong> given the high cost of withdrawing before maturity, industry insider Mohamed Abdel Moneim told us.<\/p>\n

While Citizen Bonds may pose a challenge to banks, gold\u2019s appeal will remain <\/strong>unaffected. <\/strong>The precious metal will remain the primary hedge for everyday Egyptians looking to preserve wealth in the long term, Chamber of Commerce Gold Division head Hani Milad tells us. Gold has \u201cno rival,\u201d he explained, pointing to gold\u2019s over 70% rise in the last 12 months and nearly 20% increase YTD.<\/p>\n

What\u2019s next? <\/strong>The Finance Ministry intends to make this a monthly fixture. Every new issuance will feature a variable rate, allowing the state to adjust its cost of borrowing in real-time based on the interest rate environment. The subscription for the current tranche remains open until 8 March.<\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

While Citizen Bonds may pose a challenge to banks, gold\u2019s appeal will remain unaffected<\/p>\n","protected":false},"author":1,"featured_media":684219,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[8250],"tags":[7106,72,276],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-684218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt","tag-debt","tag-enterpriseam","tag-finance-ministry","wpautop","entry"],"acf":{"mongo_id":"8ffc6de6-1986-4df1-920f-fe4d53144c2d","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/1979.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Citizen Bonds\u2019 EGP 2 bn first week debut is a warning to banks","related_issue":[684201],"teaser":"While Citizen Bonds may pose a challenge to banks, gold\u2019s appeal will remain unaffected"},"yoast_head":"\nCitizen Bonds\u2019 EGP 2 bn first week debut shows banks may have to raise rates to keep depositor base - 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The delegation sat down with Misr\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\/2019\/6\/1593.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598497,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/27\/finmin-looking-to-narrow-egypts-financing-gap-to-egp-720-bn-next-fiscal-year\/","url_meta":{"origin":684218,"position":1},"title":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year","author":"enterpriseam admin","date":"27 May 2019","format":false,"excerpt":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year -Kouchouk: The Finance Ministry is working to trim EGP 100 bn off Egypt\u2019s forecasted budget deficit in FY2019-2020 to EGP 720 bn, Vice Minister of Finance Ahmed Kouchouk tells Al Shorouk. 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