BDAC To Launch Savings Certificates With 11% Accumulated Return

Bank for Development and Agricultural Credit (BDAC) studies offering savings certificates with a fixed accumulated rate up to 11% with variable maturity dates (3,4 and 5 years).

Sources affirmed that the Bank will be offering these certificates after being approved by Central Bank of Egypt (CBE).

In addition, such certificates offer fixed annual interest with monthly return.

These savings instruments will increase the Bank’s deposits portfolio which will in turn provide more liquidity for implementing agricultural projects and investments, sources noted.