The National Bank of Egypt (NBE) and Banque Misr will offer new savings certificates with returns of 23.5% and 27% through their branches starting from Monday. This comes after limiting the purchase process to electronic methods and ATMs in the past two days, as well as some branches in commercial malls, hotels, and airports. The purchase of the new certificates from all bank branches was supposed to start yesterday, Sunday, but it was delayed due to an official holiday for Christmas. Last Thursday evening, the two government banks announced the issuance of a platinum certificate with a one-year maturity, offering returns of up to 27%, to be paid at the end of the certificate period. There is also a 23.5% return, payable monthly. The certificates are issued in denominations of EGP 1,000 and multiples thereof, targeting adult Egyptians and foreigners, whether individuals or minors. The banks allowed the purchase of certificates starting from last Friday through online and mobile banking, with the certificate activation scheduled for the next business day, which is Monday. The bank offers lending and issues credit cards with collateral. The certificate can be redeemed after six months from the next working day after the purchase date, according to the redemption rules and regulated terms and conditions. Mohamed El-Etreby, the Chairperson of Banque Misr, expects the proceeds from these certificates to exceed half a trillion pounds between Banque Misr and the National Bank of Egypt. He said in a television interview that the two banks collected about EGP 11bn on the first day of offering these certificates through electronic channels, ATMs, and branches in commercial malls, hotels, and airports. He expects the offering of these certificates to continue until next February, explaining that the proceeds from the 22.5% and 25% certificates offered in January 2023 amount to around EGP 500bn. About EGP 168bn belongs to Banque Misr, due between 5 January and 2 February, along with other certificates that also mature during the same period, which could increase the demand for the new certificates. Banque Misr clarified its position regarding the 25% certificates whose due dates started last Thursday. The bank said in a press release that unredeemed certificates will be added to customer accounts on the due date directly. For the reserved certificates, they will be renewed on their due date at the new interest rate approved by the bank yesterday. Mohamed Abdel Aal, a well-known banking expert, said that the issuance of these certificates by Banque Misr and the National Bank of Egypt is a good initiative by the state-owned banks to accommodate their clients who are entitled to the 25% certificates starting from Friday, 5 January. The value of these certificates is about EGP 500bn, and it is important to keep and retain them within the two banks again by raising the awareness of the previous depositors and offering higher interest rates than before. Abdel Aal said that the recent period has been very fruitful for the culture and awareness of savers from the family sector, as they experienced various shocks to the Egyptian economy, including the aftermath of inflation. He said that there are other investments in real estate, land, gold, and the stock market, besides certificates. Savers can choose between these investments based on their saving preferences and certain levels of risk. Abdel Aal expects the certificates of Banque Misr and the National Bank to attract new segments of customers who did not have the opportunity to acquire the old certificates. Regarding the best investment channels that can benefit from the liquidity that will be returned to holders of the 25% certificates, Abdel Aal said it depends on several factors. These factors include the level of risk the customer is willing to accept compared to the return they will receive, inflation rates, and also the amount of taxes due on each investment aspect, considering exempted investments such as savings vessels. Additionally, the ease of liquidating investments at any time and other factors should be taken into account.