Cairo – Mubasher: Misr Iran Bank (MIDBank) announced that interest rates on its three-year fixed-rate savings certificates are kept unchanged to support the country’s economic stability, the Middle East News Agency (MENA) reported on Wednesday.
Interest rates are left steady at 11% for monthly-return certificates and 11.5% for quarterly-return certificates, the bank’s general manager of branches Mohamed El-Senousy said.
In addition, the bank decided to keep interest rates on its three-year certificates with annual return at 12%.
It is noteworthy that on Monday, the Central Bank of Egypt (CBE) reduced interest rates by 300 basis points in an emergency meeting.
