After Raises of treasury bills.. A new certificate with a return of 19%

The Central Bank of Egypt raised interest rates on Egyptian treasury bills, hours after the bank’s Monetary Policy Committee decided, on Thursday, to move interest rates by 2% on deposits (18.25%) and lending (19.25%).

Interest rates on one-year treasury bills

The average interest rate on Egyptian treasury bills due after one year reached 22.683% for the first time, according to the results of transactions in the short-term government debt instruments market.

The average interest rate on treasury bills for one year in the session of last March 28 was 22.546%, before the “Central” raised the rate last Sunday to 22.683%.

The interest rate is 23%

According to the results of transactions in the short-term debt instruments market, the average interest rate on the 3-month bills reached 20.924%, and the interest rate on the 6-month treasury bills reached 22.581%, while the return rate on the 9-month bills for the first time was 23.059%.

Issuing treasury bills worth 79.5 billion pounds

Today, Tuesday, the Central Bank of Egypt, on behalf of the Ministry of Finance, issued treasury bills worth 79.5 billion pounds, to spend on items of the state’s general budget.

New certificate

 On the other hand, QNB Al Ahly Bank, the second largest private sector bank in Egypt, issued a new certificate with a fixed return of 19.25% for a period of 3 years, 72 hours after Al Ahly Bank of Egypt and Egypt issued two certificates with a fixed return of 19% and a decreasing 22%.

"QNB" ALAHLI Bank certificate

And QNB Al Ahli Bank announced, in an official statement, that the new Awael savings certificate is for a period of 3 years, with a monthly return, with a minimum of 500 thousand pounds and multiples of 1000 pounds, indicating the provision of credit facilities with the guarantee of the certificate, with the possibility of online purchase.

Commercial International Bank (CIB) Certificate

The Commercial International Bank (CIB) Egypt - the largest private sector bank - offered a new certificate with a fixed return of 22% for a period of 3 years, with a minimum purchase price of EGP 3 million.

Raise interest rates

 It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt raised interest rates, last Thursday, by 2% on deposits, bringing the rate to 18.25%, and lending to 19.25%, in its second meeting in 2023.