Egypt: Huge Turnout Expected for Suez Canal Certificates

Huge Turnout Expected for Suez Canal Certificates

Governor of the Central Bank of Egypt (CBE) Hisham Ramez announced on Sunday issuance of investment certificates for the New Suez Canal Project.

Ramez said that Cabinet’s economic group has agreed on issuing investment certificates of the New Suez Canal project and that the issue was raised to President Abdel Fattah El Sisi. He expected that purchase process of the certificates will witness a huge turnout from Egyptians.

The National Bank of Egypt, Banque Misr, Banque du Caire and Suez Canal Bank are the banks entitled to issue the new certificates. The certificates will be released in 10, 100 and 1,000 Egyptian pounds, which will offer an interest rate paid every three months.

Banks issuing the certificates will not charge additional expenses or commissions for issuing the certificates for clients.

Speaking during a press conference, CBE Governor expected that many Egyptians will buy investment certificates, which will be issued for the new Suez Canal project.

He further said that citizens are now selling dollars and transfer them to Egyptian currency to buy investment certificates in the new Suez Canal project. “Egyptians are keen on contributing to the new Suez Canal project,” he went on to say.

He also said that the investment certificates are guaranteed, pointing out that returns of 12% are higher than the market rate.

Press Release, September 2, 2014

Share this article

Follow Dredging Today

Events>

<< Sep 2016 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Marine & Coastal Civil Engineering 2016

Marine & Coastal Civil Engineering 2016 is the UK’s leading event in presenting global solutions and innovative concepts to professionals…

read more >

Dredging for flood prevention and response, London

The September CEDA half-day seminar will focus on dredging in flood prevention and response: what can dredging do to reduce the risk…

read more >

MIDAS Final Meeting

This meeting will showcase the final results and outcomes arising from the past 3 years of MIDAS research. The meeting is open to all, but…

read more >

INNOVATION IN FLOOD RISK MANAGEMENT IN THE UK

This seminar will cover the benefits and approaches to innovation in flood risk management. This includes innovations in engagement with…

read more >

Jobs>

Dredge Masters, Engineers and Superintendent\\\\\\\'s Urgently Required!

Flagship Management is working with a number of leading international marine and dredging organizations and require the following candidates for a range of global projects...

apply

Hydrographic Surveyor

Gahagan & Bryant Associates, Inc. (GBA) is posting the following career opportunity in their Houston, TX and Baltimore, MD and Tampa, FL offices....

apply

Design Engineer Standard Cutter Suction Dredgers

As a Design Engineer you will be involved in the concept, basic and detail design of Cutter Suction Dredgers...

apply