The Commercial International Bank (CIB) has increased the yield on its three-month certificates by 2%, reaching a maximum return of 24% disbursed monthly.

The bank revealed that the minimum purchase amount for the certificate with a 24% return in the first tranche will start from EGP 5 million, with increments of EGP 1,000, instead of EGP 22 million.

Additionally, the bank offers other three-month certificates with a return of 23%, up from 21%, with a minimum starting amount of one million Egyptian pounds.

Moreover, the bank offers a certificate starting from EGP 100,000 with increments of EGP 1,000, yielding 22% monthly instead of 20%.

In its extraordinary meeting, the Monetary Policy Committee decided to raise the deposit and lending rates for overnight transactions and the central bank's main operation rate by 600 basis points to reach 27.25%, 28.25%, and 27.75%, respectively. The credit and discount rates were also increased by 600 basis points to reach 27.75%.