New Suez Canal: President Issues Decree on Investment Certificates

President Abdel Fattah al-Sisi issued a presidential decree on the investment certificates for the New Suez Canal project, Presidential Spokesman Ihab Badawi said.

Under the decree, the National Bank of Egypt, Banque Misr, Banque du Caire and Suez Canal Bank are entitled to issue the new certificates.

The certificates will be issued in various categories whose return would be used in funding the new waterway project.

The return would be deposited in the Suez Canal Authority’s account at the Central Bank of Egypt.

The certificate will be exempted from any taxes and fees, according to the decree.