By Ramy Sameeh
Abu Dhabi – Mubasher: Egypt may issue dollar-denominated investment certificates to foreigners, following the successful issuance of certificates for Egyptians living abroad, said Immigration Minister Nabila Makram.
Speaking to Mubasher during a conference held in Abu Dhabi, the minister added that the government received requests from foreigners and nationals for the issuance of such certificates.
Three state-owned banks, namely National Bank of Egypt, Banque Misr and Banque du Caire, issued late in February dollar-denominated investment certificates, called 'Biladi', for nationals living abroad, in a bid to boost inflows of hard currency.
According to the minister, 'Biladi' certificates received tremendous turnout by nationals living in GCC and the U.S.
Egypt's biggest state-owned bank NBE announced earlier this week that it along with Banque Misr and Banque du Caire issue euro-denominated investment certificates to Egyptians living overseas at an interest rate ranging between 2% and 3.5%.
The minister also said a roadshow began for the dollar certificates in the UAE, then would continue in Denmark, the U.S., Canada, Saudi Arabia, Kuwait, Jordan and finally Australia.
Translated by Sayed Abdel Rahman
