The proceeds of certificate of deposit (CDs) sold in USD by National Bank of Egypt (NBE) and Banque Misr reached USD850mn at of last Monday. The certificates include 15% yielding CDs, the three-, five- and seven-year saving certificates and the Belady certificates in USD promoted abroad. Banque Misr Chairman Mohamed al-Etribi said the proceeds of 15% yield CDs amounted to USD55mn since their launch last March, adding that his bank has decided to resell the CDs after the end of offering period due to high demand from customers. The senior banker added that the proceeds of the rest of USD CDs amounted to USD200mn. Al-Etribi further stated that his bank had recently signed a Murabaha financing agreement worth USD105mn with three Emirati banks. The funds will be channeled to finance some projects in the local market. (Al Mal)