Cairo – Mubasher: Egypt’s total term deposits at fixed rate amounted to EGP 10 billion in Tuesday auction, with a return of 19.25%.
Offers presented by 17 banks amounted to EGP 77.8 billion at an allocation rate of around 12.84%, according to the Central Bank of Egypt’s (CBE) official website.
In April 2013, the CBE approved the mechanism of fixed-rate term deposits to invest liquidity surplus in the banking sectors.
