Banque Misr Offers High-Interest Dollar-Dominated Certificates of Deposit

On July 26, Banque Misr announced the issuance of two dollar-dominated three-year certificates of deposits with highly attractive rates, ranging from 7 to 9 percent.

This marks the highest interest rate offered by the Egyptian banking system for a foreign currency savings certificate since the early 1990s.

Comparatively, other banks regionally and globally are offering rates of around 5 percent on dollar savings certificates, with examples including Barclays and Marcus by Goldman Sach.

As of July 31, 2023, the highest current CD rates globally* are: [details not provided in the original text]

(*Note: Specific global CD rates were not mentioned in the original news report.)

    Bread Savings: 5.35% APY for 1-year CD (visit Bread Savings)
    Quontic Bank: 5.30% APY for 1-year CD (visit Quontic Bank)
    BMO Harris: 5.10% APY for 12 and 13-month CDs (visit BMO Harris)
    CFG Bank: 5.05% APY for 1-year CD
    Synchrony Bank: 5.05% APY for 9-month CD
    Ally Bank: 5.00% APY for 9 and 18-month CDs
    Barclays Online: 5.00% APY for 12-month CD
    Bethpage Federal Credit Union: 5.00% APY for 1-year CD
    Marcus by Goldman Sachs: 5.00% APY for 12-month CD
    PenFed Credit Union: 4.90% APY for 15-month CD


Leave a Reply

Your email address will not be published. Required fields are marked *