Government to raise Suez Canal certificates rates to 15.5%
The government decided on Sunday to raise Suez Canal investment certificates interest rates from 12% p.a. to 15.5% p.a., according to the Minister of Finance Amr Al-Garhy. A decision will be officially announced within hours, Al-Garhy said. The Suez Canal investment certificates were sold in September 2014 in local currency only and has collected EGP64bn in eight days by selling non-tradable certificates with five-year maturity at 12% interest rate to nationals individuals and institutions. (Al Borsa)
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