Egyptian Banks interest rate

>>3316248
Nothing, only remember that usually the interest rate is the investor's reward for the risk

>>3316248
interest is forbidden under sharia law

Until the day the Egyptian bank collapses in debt and your money is gone.

Yeah nah thanks.

>>3316248
What business in those shitholes can make a bank give you 20% interest?
Are they funding cocaine factorys or something?

>>3316248
Egyptian here and I can confirm

>>3316357
what the hell? how do they do it

>>3316248
banks can go bankrupt in those countries and all your money is gone instantly... happens all the time.

also your friend is a liar. Bank restrictions in egypt were lifted only 2 months ago.. before that it was forbidden to transfer money from egypt to another country.

last but not least.. you are not allowed to just open an bank account there (certainly not as being an American) you need to be egyptian with egyptian ID documents.

>>3316386
they are trying to attract investors as the government is building a new infrastructure for pretty much everything

>>3316352
they have loan interest rates of 300 to 500 % percent or whatever crazy number... It's because it's high risk in those countries..

so they lend money at 500 % and give a bank interest saving of 20 %

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>>3316320
Dude it didn't collapse with the Egyptian riots and a change of president, they only diminished the rates at which you could remove money from the account.

>>3316352
Dunno, spoke with an Egyptian girl, same thing in Iran.

>>3316357
fucking how do I open an account, pic related my girlfriend you can have her if you tell me

>>3316425
Sorry, trusting 100k to an egyptian bank for 20% isn't worth the risk for mine given the current economic decline egypt finds itself amidst.

>>3316457
what if I have 2 million bucks right now?

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>>3316248
>What's stopping me from doing this?
I'll answer that with a very simple question: Ukraine has about 17% interest rates. Why does Ukraine have 17% interest rates?

Egypt inflation 30%
Egypt interest rate 20%

Next question? Ps.: your friend is a moron

>>3316837
Most informative post. Basically don't be drawn to countries high interest rates for the currency. They are generally in line with the inflation per year for that country either below or on par, not always above so in this case you aren't saving you are losing 10% a year