Yield Type

Payment Frequency

 Quarterly

Redemption Conditions

The value of the certificate can not be redeemed before 6 months from the following working day of purchase date. After that period, redemption can be made in US Dollars, provided that the return is recalculated according to the following redemption rates:

• During the first year till the end of the second year: 3.5%
• After the end of the second year till the end of the third year: 4.5%

Interest is not calculated for fractions of the month

Certificate Type

The certificate is nominal and may not be traded, endorsed, transferred, discounted, mortgaged, or disposed of in any form of transfer of ownership except in favor of Banque Misr.

Lending

Eligible for Lending in Egyptian pounds against the guarantee of the certificate in accordance with the instructions in force and the interest rates on the date of lending as follows:

• Credit rate: Up to a maximum of 50% of the equivalent of the nominal value of the certificate in Egyptian pounds according to the purchase exchange rate announced by the bank at the time of granting.
• Lending at the debit rate of interest corridor lending rate – 2.25%

Maximum client-level financing: EGP 10M

Features of the Al-Qema Dollar Certificate

Currency

US Dollar

Tenor

3 years, starting from the following working day of purchase date

Renewal

Not renewable.

Certificate Denomination

USD 1000 and multiples

Individuals, Egyptians, or foreigners

Yield Type

Fixed Return

Annual Interest Rate

8.5% granted in US dollars and paid in advance for the entire duration of the certificate in the equivalent to Egyptian pounds according to the purchase exchange rate announced by the bank on the date of purchase of the certificate.

Frequency

Interest paid in advance in the customer's account in Egyptian pounds on the following working day of certificate purchase date.

Redemption Conditions

The value of the certificate can not be redeemed before 6 months from the following working day of purchase date. After that period, redemption can be made in the currency of the certificate, provided that the return is recalculated according to the following redemption rates:

• During the first year: 5.5%
• During the second year: 6%
• After the end of the second year until the end of the third year: 6.5%

Interest is not calculated for fractions of the month

Certificate Type

The certificate is nominal and may not be traded, endorsed, transferred, discounted, mortgaged, or disposed of in any form of transfer of ownership except in favor of Banque Misr

Lending

Lending against the certificate is not allowed

Other Conditions

Require an account in Egyptian pounds in addition to the account from which the certificate was purchased in US dollars