Egyptians' transfers from abroad reached $19bn in 2015

ated certificate comes to meet the needs of Egyptian abroad.

She added that Egyptians' transfers from abroad reached 19 billion dollars in 2015.

This came on the sidelines of launching the US dollar-denominated certificates to Egyptian expats on Monday.

The launching was attended by the heads of banks participating in the issuing of the certificate.

The issuing of the saving certificates in dollars for Egyptians abroad comes in cooperation with Immigration and Egyptian Expatriate Affairs Ministry. 

The revenues of these certificates will be transferred abroad for the benefit of the subscribers, she added.

The one-year certificate will have an interest rate of 3.5 percent, the three-year will have an interest rate of 4.5 percent, while the five-year will have an interest rate of 5.5 percent. 

The new certificates are expected to attract the savings of the Egyptians abroad, especially with the start of the summer season.