(MENAFN- Khaleej Times) Shaikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research, attended a ceremony on Sunday held at Beach Rotana Hotel in Abu Dhabi to announce the launch of US dollar certificate for Egyptians.
The ceremony was also attended by the Egyptian ambassador to the UAE Tamir Mansour.
The certificate in US dollars is an investment certificate issued by the National Bank of Egypt (NBE) dedicated for Egyptian expatriates in favour of the government of Arab Republic of Egypt to boost and jack up its economy. The certificate, which is issued against $1000 and its multiplication, yields annual revenues of four per cent for a certificate holder.
The certificate shall be sold to Egyptians living abroad through the National Bank of Abu Dhabi, or NBAD in coordination with Bank Misr (Egypt Bank). It will be available in Sultanate of Oman through the NBAD's branches in Muscat.The certificate is also offered in KSA, Kuwait, Qatar, Bahrain, apart from Oman, via some local banks there. Giving a speech on the occasion, Shaikh Nahyan assured that the Egyptian investment initiative deepens the indulgence of the Egyptian community in the UAE in supporting and bolstering their homeland's march during the transition period.
He appreciated the distinguished contributions made by the Egyptian community in beefing up the development and progress of the UAE. He said the intimate ties between Egypt and its sons (citizens) is considered an exemplary model for the close and firm relations between a nation and its citizens. For his part, Tamir Mansour appreciated the efforts made by Shaikh Nahyan in reinforcing and boosting the development march of his nation. Mansour also appreciated the roles of UAE and Egypt banks in backing bank sectors in both brotherly countries.
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