The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has been selected to be the selling bank of the U.S. dollar-denominated "Al Masry" certificates of deposit (CD), which are issued by National Bank of Egypt (NBE) on behalf of the Government of Egypt for Egyptians citizens living in the United Arab Emirates (UAE) and Sultanate of Oman. The certificates of deposit are 100% guaranteed by the government of Egypt and offer interest rate of 4%.

"NBAD has been chosen to be the selling bank of "Al Masry" in UAE and Oman because of its repution as the safest bank in the Middle East and its wide network across the region, which allows Egyptian expatriates in the UAE and Oman to invest in the certificates," said Ahmed Ismail Hassan, NBAD’s Regional Manager in Egypt."With the high yield and flexibility of purchasing and redemption as well as a guarantee from the Egyptian government, the Al Masry certificate of deposit will draw great enthusiasm from Egyptians living abroad."

All Egyptians citizen living in the UAE can invest in certificates of saving through selected NBAD branches throughout the UAE, especially those that operate for long hours in shopping malls such as Mushrif, Dalma, Mirdif City Centre, Dubai Mall and Al Ain Mall, a matter which facilitates the investment process. In Oman, four NBAD branches in the capital city Muscat will offer the CDs.

Al Masry CD is a medium-term savings plan for three years issued in mulitiples of $1,000 notes and offers fixed interest rate of 4% paid every six months. In addition, there is no limit for purchase and the returns are credited to any account designated by the client in the purchase application. Investors can request early redemption of the certificate at any time after six months from the date of purchase in accordance with the specified redemption schedule.

NBAD is selected because of its prestigous position as one of the prominent Arab banks operating in Egypt since 1975. During the past 37 years, the Bank suceeded in stabilizing its position among top financial institutions in Egypt. NBAD has 29 branches in the Arab Republic of Egypt, and plans to expand its branch network to 50 branches by the end of 2015. NBAD has one of the largest networks of branches and ATMs in the UAE, a growing network that expends more than122 branches across the country. NBAD’s overseas network stretches from Hong Kong to Oman, Bahrain, Kuwait, Jordan, Egypt, Sudan, Libya, France, Switzerland, United Kingdom, and the United States of America.

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