Investments in government securities make up 40-50% of ADIB Egypt’s budget

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Preference was given to short-term investments for the expected interest rates

Staff Writer, Arab Finance

March 5, 2024

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Abu Dhabi Islamic Bank-Egypt’s (ADIB Egypt) investments in government securities range between 40% and 50% of the bank’s total budget, Head of Treasury and Financial Markets Tamer Shaheen told Asharq Business.

He added that preference was given to short-term investments for the expected interest rates.

Shaheen noted that the increase in interest on treasury bonds to over 30% is justifiable.

Moreover, he said that the fair price of the Egyptian pound is around 35 to 40 against $1 as per the technical calculations.

However, he highlighted that the social impact of the fair exchange rate should be taken into consideration.

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