Egyptian banks may reissue high-yield certificates
Banking and economic sources do not expect Bank al-Ahli and Bank of Egypt to reintroduce high-yield savings certificates offering returns of 27% or 30% at this time, despite the recent rise in the dollar's exchange rate against the pound, which jumped about 4.5% in October to nearly 55 pounds—its highest in six months. The reason for this is that the current returns on these certificates, along with alternative investment options such as treasury bills and money market funds, remain attractive. Additionally, the high liquidity levels in the banking sector reduce the need to increase interest rates on savings. Moreover, any potential increase in returns may be limited, as it would balance the cost of attracting liquidity with the competitiveness of other investment tools. There is also a possibility that banks may offer short-term certificates with higher returns, but on a limited scale rather than significantly so.
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