Marine Link
Monday, September 26, 2016

Suez Canal 5-Year Investment Promises 12%

September 3, 2014

Suez Canal transit: File photo

Suez Canal transit: File photo

Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available for the public by Thursday or at the beginning of the next week, reports 'Daily News Egypt'.

The investment certificates will be issued at the values of EGP 10, EGP 100, EGP 1,000 with a five year maturity and a 12% interest rate.

The CBE governor announced that the interest on the EGP 1,000 certificates can be collected on a quarterly basis. However, the interest on investment certificates between EGP 10 and EGP 100 will be cumulative – redeemed at the end of the five year period.

Hisham Ramez, governor of the Central Bank of Egypt (CBE) announced during a press conference on Sunday that around 6m tax-exempted Suez Canal investment certificates are ready to be issued, following  presidential approval.

Source: Daily News Egypt

 



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News