Egypt's SAIB bank issues savings certificates with interest rate of 15%

Certificates are sold in denominations of $27.6 and the interest is exempted from taxes

  
09 February 2017
By Mohamed Hamdy 

Egypt's Societe Arab Internationale de Banque (SAIB) is issuing five-year savings certificates with an interest rate of 15 percent, with monthly revenue.

The certificates are sold in denominations of 500 Egyptian pounds ($27.6) and the interest is exempted from taxes. The revenue starts to be calculated from the next day of buying date.

© Amwal Alghad 2017

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