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NBE, Banque Misr discontinue their 20% interest rate saving certificates

The National Bank of Egypt (NBE) will discontinue offering the platinum saving certificate with an annual return rate of 20%, starting from the end of the workday on 15 February 2018, Yehia Abu El-Fotouh, the vice chairperson of NBE told Daily News Egypt on Thursday. However, current certificate owners will continue to have the same …

Hossam Mounir

Banque Misr signs MoU with CDB to finance Chinese projects in Egypt 

Banque Misr Vice Chairman Akef Al-Maghraby signed a memorandum of understanding (MoU) with Wang Yongsheng, vice chairman of the Chinese Development Bank (CDB) to obtain to finance Chinese projects in the Egyptian market. The agreement comes in the framework of fruitful cooperation between Egyptian and Chinese banks, particularly the CDB. It also comes as a …

Hossam Mounir

Afreximbank signs loan to Banque Misr worth $200m next week

The African Export-Import Bank’s (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …

El Husseiny Hassan