Minister of Social Solidarity Nevine al-Kabbaj announced Tuesday the launch of a new certificate of deposit under the “Hayah Karima” (Decent Life) initiative in coordination between Nasser Social Bank and the Decent Life Foundation, following the issuance of the National Bank of Egypt and Banque Misr certificates.
This comes in conjunction with a hike in the interest rate.
She confirmed that the interest rate will be equal to prevailing rates in the markets, ranging between 17 to 18 percent, and that the new certificate of deposit will be launched this week.
The advisor to the Chairman of the Board of Directors of Nasser Social Bank said that the new certificate is available to individuals, institutions and companies.
Options are grant to either donate the entire return or half the return to support development operations in Egyptian villages.
Nasser Social Bank has dedicated the full-time 24 hour hotline 16868 to inquire about certificates, customer opinions and all banking products.
