The state-run National Bank of Egypt (NBE) has resumed offering the 15% yield certificate of deposit (CD) sold in USD and then converted into EGP. Chairman of NBE Hesham Okasha said that the bank had stopped selling the CD for four days as of last Monday as the initial 60 days offering period ended. The bank was addressed by many branches that there is demand for the certificate, prompting it to decide to re-offer the product. According to NBE’s Deputy Chairman Yehia Abul Fotouh, the proceeds of selling the CDs totaled EGP1.5bn (USD169mn) as of last Monday. The CDs have a maturity of three years and accrue an annual interest rate of 15% paid on a quarterly basis. Al Mal newspaper reported earlier that state-owned banks NBE, Banque Misr and Banque du Caire, had decided not to extend the subscription in the 15% yield CDs beyond the 60-days initial period. Issuing these CDs is part of efforts exerted by public banks in cooperation with the Central Bank of Egypt (CBE) to increase foreign currency inflows. (Al Mal)