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From Islam Fadl
Cairo – Mubasher: The National Bank of Egypt (NBE) has decided to reduce the interest rates of its certificates, said the vice president of the bank.
Yahya Aboul Fotouh said Thursday in a telephone interview with Mubasher that the ALICO committee had decided to reduce interest rates for 3-year fixed rate platinum certificates from 1% to 14% and 14.25% instead of 15% and 15.25%..
The committee also decided to reduce the interest rate of floating rate certificates by 1.5%, to 14.5% instead of 16%, and to reduce the interest rate of the five-year certificates. years of 1%..
The Egyptian Central Bank (CBE) recently decided to reduce the deposit and demand loan rate and the central bank financing rate by 150 basis points to 14.25%, 15.25% and 14% respectively. , 75%, respectively..
The central bank's monetary policy committee also decided to cut credit and the discount rate by 150 basis points to 14.75%.
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