Arab Bank launches 18% savings certificate for millionaires as Egyptian banks raise rates

The Arab Bank has introduced a three-year savings certificate with a fixed annual return of up to 18%, requiring a minimum deposit of one million Egyptian pounds.

• The certificate offers returns of 17.5% with daily payout, 17.75% with monthly payout, or 18% with annual payout.
• Holders can redeem the certificate after six months or borrow up to 95% of its value.
• The Commercial International Bank had previously raised its "Premium" certificate rate to 18% with a minimum of 50,000 pounds.