Hassan Abdalla

Money Moves

Led the rate-setting committee that approved the hike

The central bank's October 29 hike lifted the overnight deposit rate to 20% and the lending rate to 21%, the first increase since March 2024. Days later, the biggest banks raised returns on variable-rate savings certificates: National Bank of Egypt to 20.50%, Banque Misr and Commercial International Bank to 20.25%.

Updated 3 days ago