World

Arab Bank Egypt increases the triple certificate’s interest rate by 2.75 percent

Arab Bank Egypt, one of the Jordanian banks that has a presence in the Egyptian market, increased the interest rate on the 3-year certificate of fixed return by 2.75 percent. This is the second increase in the certificate’s return this year, following the Central Bank’s decision to increase interest rates.

In addition, the Arab Bank published on its website that the interest rate on the triple certificate was increased from 13 percent to 15.75 percent with a monthly periodic return exchange that is available to all individuals with a minimum purchase of 10,000 pounds and then a double of 1,000 pounds, while the certificate’s interest rate was maintained. five, 12 percent, unchanged.

After the Central Bank’s recent decision to raise interest rates by 2%, the Arab Bank of Egypt’s decision came at the same time that 15 banks decided to raise the interest rate on certificates.

At an extraordinary meeting of the Monetary Policy Committee on Thursday, October 27, the Central Bank made the announcement that it would raise the interest rate by 2% to deal with the rise in inflation (prices) caused by the decision to liberalize the exchange rate (the depreciation of the pound against foreign currencies). This would be the bank’s third increase this year.

After the Central Bank’s decision to raise the interest rate by a total of 3% during the past March and May, the Arab Bank, which operates in Egypt under the license of a foreign bank branch, raised the interest rate on the certificates by 3% in June.

Each bank determines the interest rate on the certificates based on various studies according to its cost of funds, target customers, liquidity levels, and the movements of its competing banks.

Raeesa Sayyad

Recent Posts

Astrologysay Plans Major Expansion After a Year of Growth and Trust

Sikar, Rajasthan | April 28, 2025 — After completing one successful year in the field… Read More

2 hours ago

Small Business Month Encourages Entrepreneurs to Take Stock and Scale Up with Actionable Marketing Strategies

May is Small Business Month, a time to honor and recognize the achievements of the… Read More

2 days ago

Swiss International University (SIU) Elevates Its Global Standing with Prestigious Accreditations and Global Partnerships

Swiss International University (SIU) is on track to be one of the world's most respected… Read More

3 days ago

Upstox’s Milan Bavishi Shares Fintech Storytelling Secrets with Invertis University Students

In a session that left students buzzing with fresh ideas and practical insights, Invertis University… Read More

3 days ago

Towards new trends, gathering new trends, and innovating: China Changan debuts at the 2025 Shanghai Auto Show

At the 21st Shanghai International Automobile Industry Exhibition, which is surging with the wave of… Read More

3 days ago

House of Spells and Comic Con Liverpool Collaborate Again to Bring Wonder and Tourism to Merseyside

Liverpool, UK—House of Spells and Comic Con Liverpool are once again collaborating to bring the… Read More

4 days ago