Dollar needs of basic, non-basic importers

Deputy Chairman of the National Bank of Egypt (NBE) Yehia Abul Fotouh on Tuesday asserted that the bank has fulfilled all dollar needs of importers of basic and non-basic commodities.

In statements to MENA on the fringe of his participation in a conference titled "People and Banks", Abul Fotouh said the bank has opened documentary letters of credit at a value of dlrs 600 million to fund the various import operations.

He said NBE has so far received EGP 92 billion from selling the three-year investment certificates at 16 percent interest rate and the three-year certificates at 20 percent interest rate till Monday.