Two Egyptian banks announced Wednesday a measure to encourage more Egyptians to save amid inflation and the depreciation of the Egyptian pound.
Banque Misr is issuing one-year savings certificates with either a 25% yield at the end of the year or a 22.5% monthly yield, according to a tweet from the bank. The National Bank of Egypt is offering the same thing. The yields are the highest on record, Egypt’s state-owned news outlet Al-Ahram reported.
