Cairo: MIDBANK announced raising the return of the three-year certificates of deposits with variable return for individual customers, to a variable return of 27.25% per month and 27.5% quarterly, following the Central Bank of Egypt's decision to raise the rate of return by 6%.

This comes in line with the decisions of the Egyptian State and the Central Bank to raise the rate of return, within the framework of a series of economic measures that contribute to meeting the challenges of local currency and helping citizens deal with the current challenges of the Egyptian market by providing them with investment opportunities and obtaining the highest competitive return.

Omnia Shahin, Head of Retail Banking Sector in MIDBANK, said: "MIDBANK's decision to increase the return of the trilateral certificate with a variable return came after the Central Bank announced an increase in the rate of return, in line with the Bank's constant commitment to provide various saving products to enable customers to manage their finances and secure their financial future."

She further added: "MIDBANK strives to provide a diverse range of savings options to attract new customers, offering competitive returns with a monthly return of 27.25% and quarterly return of 27.5%. This serves as an investment avenue to meet their aspirations for obtaining a source of income to cover their various needs, increase the value of their savings, and protect them against inflation. Customers can purchase the certificate and its multipliers by visiting one of the bank's branches with the easiest and fastest procedures, where the minimum purchase of the certificate is EGP 1,000, with a competitive monthly or quarterly return. "

It is worth mentioning that MIDBANK follows an ambitious and comprehensive strategy for development and diversification in its financial and banking services and products, to keep pace with the changes in the banking sector and contribute to diversifying the customer base and enhancing banking activities. This aligns with the country’s plan and the Egyptian Central Bank's initiatives for digital transformation and financial inclusion.