Wednesday, 17 Oct 2018
Business

EGP 70 million proceeds from Ahli Bank sale of safety certificate in 7 Weeks

EGP 70 million proceeds from Ahli Bank selling safety certificate in 7 weeks

11:19 p
Thursday 19 April 2018

Manal wrote:

Yahya Abul Fotouh, Vice President of the National Bank of Egypt, said that the bank sold 52,000 Egyptian security certificates worth 70 million pounds within seven weeks of issuing the certificate.

Egypt’s four banks – Egypt, Egypt, Egypt and Egypt – have launched the Egyptian safety certificate since the beginning of last month in response to President Abdel Fattah al-Sisi’s initiative to provide a savings pot with insurance protection for temporary workers and all Egyptians.

The Aman certificate aims at insuring non-regular workers and groups with no fixed income, and providing compensation to ensure the stability of their families in case of death.

And the certificate of safety of Egyptians, is a bank savings certificate, starting from 500 pounds and multiples of up to 2500 pounds per person, paid once.

The duration of the certificate is 3 years and automatically renewed twice, ie, the total duration of up to 9 years.

A certificate of safety for the owner of a fixed annual interest of 16%, at the end of the period of the certificate, after deducting the premiums paid monthly, for the benefit of Egypt Life Insurance, the value of between 4 and 20 pounds per month, according to the value of each certificate.

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