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The stock exchange is considered the investment index in a country. It consists of shares of various companies available for sale in that country. However, the majority of the time, most people don’t really understand the specifics behind it. Here we will outline the stock exchange basics to gain a preliminary understanding of how it works.&nbsp;First and foremost, to understand what the stock exchange is, we first need to understand the meaning of a share in a company.&nbsp;<h3>What is A Share?</h3>&nbsp;Company shares are essentially a stake in the ownership of a company. When a company makes a public offering through the stock market, any person could become an owner in this company by buying a certain number of shares. The percentage of ownership of this individual depends on the number of shares he/she has purchased. In most cases, the buyer does not have a say in the company's day-to-day running unless he/ she owns a minimum of 51% of the company shares.&nbsp;&nbsp;<blockquote>as the saying goes, ‘high risk, high reward.’ It’s up to you to decide if that risk is worth it.</blockquote>&nbsp;<h3>How Do These Individuals Buy Shares?&nbsp;</h3>&nbsp;In the past, individuals would buy shares through a liaison who would purchase them on their behalf. These are intermediaries between the buyer and the company that is offering shares in the market. However, nowadays, things have changed considerably, and you can easily buy shares online. Therefore, this gives you much more flexibility, is faster, and also cheaper.&nbsp;<h3>Who or What Decides the Price of Shares?</h3>&nbsp;When a company gives a public offering for the first time, it can decide the share price. This price depends on the market’s evaluation of the company's value, capital, assets, and so forth. After this first offering, the share price then depends on supply and demand in the market. In addition, various external factors may affect the share price, such as the company's reputation, stability of the local market, governmental influences, etc.&nbsp;For this reason, investing in the stock exchange is considered high risk compared to investment in real estate or investment certificates. However, at the same time, the percentage of profits are higher, and as the saying goes, ‘high risk, high reward.’ It’s up to you to decide if that risk is worth it. &nbsp;

Do you know that you can now invest online! it's easier and even cheaper.

Are You excited To Start Your Path Of Investing?

What Is The Stock Exchange? Know More About What Are Shares.

We are always worried about money and our financial future. A common concern is whether the bank is a safe place for one’s savings. The short answer is: yes, your money is safe as long as the rules that govern the banks, which are determined by the Central Bank, are in effect.&nbsp;The banks in Egypt are supervised by the Central Bank of Egypt, which has put certain laws in effect to protect both banks and customers. Each bank is expected to abide by those laws or suffer penalties.&nbsp;<h3>Examples of What the Central Bank Supervises:</h3>&nbsp;<ul><li>The bank has enough capital to cover its own transactions.</li><li>The bank is abiding by the maximum limit to its debt and has enough guarantees to cover it.</li><li>Customer data, and what the bank is allowed to disclose.</li><li>The bank’s regulations concerning opening accounts and all transactions.</li><li>The bank’s terms and conditions concerning offering credit and loans.</li></ul>&nbsp;Moreover, the Central Bank has a warning system in place so that it can realize any problem that might occur within the banking system. In addition, each bank is supposed to insure most of its transactions so that if a problem occurs, the insurance is used to cover the related transactions.&nbsp;<blockquote>The banks in Egypt are supervised by the Central Bank of Egypt, which has put certain laws in effect to protect both banks and customers. Each bank is expected to abide by those laws or suffer penalties.</blockquote>&nbsp;<h3>Can the banking system collapse suddenly?</h3>&nbsp;In theory, it is possible, but there are always indicators. If these indicators are ignored, then the banking system collapses along with the financial system. This is what happened in 2008 in the USA. At the time, the banks kept approving mortgages without enough guarantees or insurance. So, when most of the loans defaulted, the banks were unable to cover all of those defaulted loans. That is why the government had to step in and bail out the banks so that they don’t go bankrupt.

The banks in Egypt are supervised by the Central Bank of Egypt, which has put certain laws in effect to protect both banks and customers.

Should I be worried about my bank account?

Is my Money Safe in the Bank?

Health insurance is a type of insurance against potential illnesses and health problems. The range of coverage of medical insurance varies according to the type and cost of the policy. In some countries, there is something called universal health insurance, which covers most health problems that could befall their citizens. Currently, Egypt doesn’t have universal health insurance, although the government is planning to apply it before the year 2025.&nbsp;So, if you need health insurance, you will have to buy a policy from an insurance company, and in return, you pay an annual fee. In other cases, the company for which you work supplies you with health insurance as part of the employment package offered. So, the company is the one that buys the policy from an insurance company and it includes certain coverage for its employees, depending on the type of policy and its cost. This is considered an added benefit to anyone looking for work, especially if they have a family.&nbsp;<blockquote>In some countries, there is something called universal health insurance, which covers most health problems that could befall their citizens</blockquote>&nbsp;<h3>What are the benefits of health insurance?</h3>&nbsp;<ul><li>If you happen to get sick, you don’t have to pay all of the medical expenses yourself. It depends on the type of health insurance policy, but you either don’t pay anything or pay part of the expenses.</li><li>Health insurance usually covers your immediate family members such as your spouse and your children.</li><li>Depending on the policy, health insurance can include a dental plan.</li><li>Health insurance can include eye-correction expenses such as eye exams and prescription glasses.</li><li>Health insurance can include pregnancy and labor expenses.</li></ul>&nbsp;

What is the Health insurance system in Egypt, and what's its benefits ?

What is The Health Insurance system in Egypt?

Interest is the added percentage to any loan you take out from the bank. There are two types of interest: fixed and decreasing, which differ in the way the monthly installments are calculated. However, at the end of the day, the percentage is more or less the same.&nbsp;<h3>Fixed Interest</h3>&nbsp;In this case, the monthly installments will be pre-determined and will not change. When you come to take out the loan, the interest is calculated and then the total amount of the loan is divided by the term of the loan.&nbsp;<h3>Decreasing Interest&nbsp;</h3>&nbsp;In this case, the installments differ according to the amount of money already paid off from the loan. It is calculated every month, and although the percentage remains the same, the amount of interest paid lessens as the outstanding balance is paid off.&nbsp;<blockquote>In decreasing&nbsp;interest, the installments differ according to the amount of money already paid off from the loan.</blockquote>&nbsp;<h3>Advantages of Fixed Interest:</h3>&nbsp;<ul><li>You know how much you will be paying every month</li><li>The percentage of interest might be less than the one offered on loans with decreasing interest.</li><li>It’s best if you are taking a small loan with a short term.</li><li>Total interest paid = loan principal * interest percentage * loan term.</li></ul>&nbsp;<h3>Advantages of Decreasing Interest:&nbsp;&nbsp;</h3>&nbsp;<ul><li>The amount of interest paid decreases over time.</li><li>Interest during the first year = loan principal * interest percentage * 12 months.</li><li>Interest after first year = (loan principal – amount paid) * interest percentage * 12 months.</li></ul>&nbsp;You can find your next personal loan and choose its interest rate and apply from <a href="https://www.faydety.com/en/borrow/personal-loan">here</a>.

Interest is the added percentage to any loan you take out from the bank. There are two types of interest: fixed and decreasing.

Fixed and decreasing interest rates are two different ways to refer to the same thing

What is The Difference Between Fixed and Decreasing Interest

Oil is a natural substance that is mined, and one of its derivatives is gas, which is used for fuel worldwide. Even though the world is trying to find less polluting alternatives, but up until now, it is still the primary fuel source. We depend on it to power electricity generators, heating systems and transportation, and other machines that sustain day-today activities. That is why oil has a direct effect on the economy.&nbsp;<h4>How Is The Oil Market Divided?</h4>&nbsp;<ol><li>Countries that export oil.</li><li>Countries that import oil.</li></ol>&nbsp;Oil prices affect each group differently. For countries that export oil, a price increase is a positive thing because it brings in more revenue. At the same time, citizens living in those countries still suffer from the price increase. As for the countries that import oil, the price hike has a negative impact because it means they have to spend more on fuel and also their citizens face increased prices.&nbsp;<h4>Inflation</h4>&nbsp;Oil is part of everything that affects consumers’ daily lives, because all goods are shipped or transported, meaning that all goods require fuel. So, any fluctuation in the price of oil, directly affects prices, meaning that it directly influences inflation. Hence, when oil prices increase, consumer goods’ prices increase, leading to an increase in inflation.&nbsp;If you want to know more about inflation, click here.&nbsp;<blockquote>Any fluctuation in the price of oil, directly affects prices, meaning that it directly influences inflation.</blockquote>&nbsp;<h4>Is The Price of Oil Linked to Recessions?</h4>&nbsp;An increase in oil prices, negatively affects consumers, making them unable to spend due to the general increase in prices. This will lead to a slowing down in consumer activity, which can cause a recession. However, according to financial experts, for the oil to cause a real recession, its price has to increase above USD 100 per barrel. They also add there is not a direct relationship between oil and recession. Usually, oil is not the only causer of recessions, but is one of many factors.&nbsp;<h4>How Oil Price Affects Other Industries</h4>&nbsp;Oil is a component of many industries such as plastics, lubrication and road-paving. Even though, many people believe that our dependence on oil is waning, this is not true. The world still heavily depends on oil, so much so, that tech companies like Google and Amazon have developed AI programs to help detect oil wells.&nbsp;<h4>Oil Prices and Renewable Energy Sources</h4>&nbsp;Despite the negative effects of oil price increase on most products, when it comes to renewable energy sources, it has an opposite effect. Usually, when oil price increases, people look for renewable energy sources as replacements.

How is the oil market divided? What is its relationship to inflation and recession, and how does the price of oil affect other industries?

How Oil Affects the Global Economy

Insurance is a contract, in the form of a policy, in which an individual or entity receives financial protection and/or compensation against losses from an insurance company. Insuring something means diverting the burden of payment for its loss from a personal responsibility to one that the insurance company bears on your behalf, in a certain percentage, depending on the type of insurance you have.&nbsp;&nbsp;The insurance company relies on calculating the probability of a loss or damage to an insured asset. If there is a high probability, then the insurance cost tends to be expensive; on the other hand, if the probability is low, the insurance cost tends to be relatively cheaper.&nbsp;Let's start with the basics.&nbsp;<h3>Insurance Policy:</h3>&nbsp;As stated briefly above, an insurance policy is a contract between you and an insurance company. This policy outlines your agreement's details and determines the claims that the insurer is legally required to pay in exchange for a premium. It essentially states that the insurer must pay for any loss or damage caused by risks covered under the policy.&nbsp;<h3>Insurance Premium:</h3>&nbsp;An insurance premium is a certain amount of money that you need to pay periodically in exchange for the maintenance of your chosen insurance policy. If you are unable to pay the premium, the insurance policy will be forfeited. If this happens and you decide you would like to keep your coverage, you may be required to pay a fine or charged a higher premium accordingly.&nbsp;<blockquote>The insurance company relies on calculating the probability of a loss or damage to an insured asset</blockquote>&nbsp;<h3>Types of Insurance:</h3>&nbsp;There are many different types of insurance. Though it is possible to divide them into two basic categories, under which the other types of insurance fall, the two categories are:&nbsp;<h4>Life Insurance / Health Insurance</h4>&nbsp;Life insurance is a contract between you and an insurance company where, in exchange for premium payments paid by you during your lifetime, the company will pay a sum of money to your beneficiaries after your death.&nbsp;&nbsp;Health insurance covers medical expenses that may arise due to illness. These expenses could entail costs of hospitalization, cost of medicines, or medical consultation fees.&nbsp;These insurance types are primarily based on individuals, although some countries go one step further and provide pet insurance. This is because, at times, the cost of medicines and veterinarian visits are higher than the costs of individuals.&nbsp;<h4>Property Insurance / Disaster Insurance</h4>&nbsp;This type of insurance reimburses an individual or business and protects a physical property against loss from theft, fire, natural disasters, etc. Property insurance covers the building or structure itself as well as its contents, whether personal or corporate, including furnishings, inventory, and other items.&nbsp;

What do you know about the Insurance system in Egypt? and what's its Policies, Premium, and kinds?

What is The Insurance system in Egypt?

&nbsp;Inflation is the increase of goods and services’ prices in a specific time period, and so it affects the purchasing power of the local currency. This means that as inflation rises, the local currency loses its purchasing power. So, the number of goods and services that the consumers can afford decreases.&nbsp;<h3>Types of Inflation:</h3>&nbsp;<ul><li>Cost-push inflation: this type of inflation occurs due to the increase in cost of production or manufacturing of goods and services.</li></ul>&nbsp;<ul><li>Demand-pull inflation: this occurs whenever the demand increases for a specific type of product or service, so supply cannot keep up, which drives the price up.</li></ul>&nbsp;<ul><li>Built-in inflation: after prices increase, people start to demand an increase in salaries, which drives up the prices even more, so inflation becomes a part of the economic cycle.</li></ul>&nbsp;<blockquote>Some people can benefit from inflation, and those are mainly people who own assets.</blockquote>&nbsp;<h3>Are There Benefits to Inflation?</h3>&nbsp;Some people can benefit from inflation, and those are mainly people who own assets. The reason they benefit from inflation is that it drives up the prices of their assets, and so they can sell them at a profit. This is a type of investment, and it’s one of the main sources of investment in Egypt.&nbsp;People who don’t benefit at all from inflation are those who depend on cash completely in their day-to-day transactions. Due to the dip in the purchasing power of the local currency, they will be unable to afford some products and services.&nbsp;However, inflation is a normal part of the economic cycle, and there are many factors that contribute to its rise and fall. The yearly increase in inflation helps the economy by encouraging people to invest and spend, rather than tuck away their money in the bank.&nbsp;

Inflation is a normal part of the economic cycle, and there are many factors that contribute to its rise and fall. 

What is inflation and what are it’s types and benefits?

What is Inflation?

A <a href="https://www.faydety.com/en/borrow/personal-loan">personal loan</a> is a financing option that allows you to pay for your life’s expenses such as a vacation or a new-born or a wedding, etc. As with any loan, it depends on you paying monthly installments with added interest. The loan specifics differ according to the bank and the amount of money borrowed.
<h4> How does a bank determine whether to accept or reject the personal loan application?</h4>
 The bank reviews several factors to decide, which include your credit history, your income, and any bank loans or credit cards you already have. Your credit history is summed up in your i-score, which is calculated by an external credit company. According to these factors, the bank accepts or rejects your loan, and if accepted, determines the interest rate for the loan.
<h4> What is the difference between a personal loan and a mortgage or a car loan?</h4>
 The main difference is that usually, a personal loan is unsecured, so there is no guarantee against the loan. In the case of a mortgage or car loan, the car or house are guarantees, so if you default, the bank repossesses the car or the house.
<h4> </h4>
<blockquote>
It differs according to each bank, but it depends on several factors, including if your salary is transferred to the bank or not.
</blockquote>
<h4> What is the interest rate for a personal loan?</h4>
 It differs according to each bank, but it depends on several factors, including if your salary is transferred to the bank or not. There are many banks that provide competitive rates for their customers with salary transfers. This guarantees that the bank will get the monthly payment for the loan. So, if your salary isn’t transferred, the interest rate will probably be higher. Usually, the interest rate for a personal loan falls within 15-20%. It’s very important to ask about the interest and how it will be calculated before taking out a loan from a bank.
<h4> What happens if you can’t repay the loan?</h4>
 This will affect your i-score, and by default, your financial future. It will be harder for you to apply for other financing options in the future such as loans or credit cards.

Acceptance and rejection,Difference between a personal loan and a mortgage or a car loan.

All you need to know about personal loans

What is a Personal Loan?

If you need to do anything in life, you will probably need a bank account. It is the official way of proving to the world that you are a responsible adult. You might think that opening a bank account is something that is greatly complicated or something reserved for the rich. However, this is not true. In reality, banks welcome new accounts; they want to open as many new accounts as they possibly can.&nbsp;&nbsp;Opening a bank account is easy. All you need to do is to determine what you need from your bank account and what kind of transactions you will probably perform. If you will just keep money at the bank, without any active transactions, then a savings account might be the best option for you. If you expect that you will need checks in your daily transactions, then it is probably better to open a current account.&nbsp;After you decide what kind of account you need, you should figure out which bank suits you best. This depends on a number of factors:&nbsp;&nbsp;1-The minimum amount needed to open the account. This differs from one bank to the other. It can be anywhere from EGP 1000 to EGP 10,000. So, figure out how much money you will deposit and make sure you will be able to keep it in the account so you don’t pay a fee for low funds.&nbsp;<blockquote>You need to make sure that the bank you will employ will have enough ATMs and branches around you.</blockquote>&nbsp;2-Bank expenses. There are annual fees that you need to pay in return for using the bank. If those expenses are really high and you are not really using your account, then there is no point in keeping the account open. Therefore you have to find a bank that fits your budget.3-The bank’s proximity. You need to make sure that the bank you will employ will have enough ATMs and branches around you, so as to make your life easier.&nbsp;4-Customer service. Can you easily access customer service? If not, then it is not a good idea to use that bank. In most cases, when you have a problem, you will have to deal with customer service. If it’s hard to reach them or communication is a problem, then your banking experience will become unnecessarily difficult.<h4>&nbsp;</h4><h3>What documents do you need to open a bank account?</h3>&nbsp;&nbsp;&nbsp;1-Your national ID or passport or birth certificate (for minors).&nbsp;&nbsp;2-The minimum amount of money needed to open a bank account.&nbsp;&nbsp;3-Account opening fees.

we will tell you the Step by step of how to open your first bank account, especially the savings accounts in the Egyptian Banks

Your first step at the beginning of your financial life.

How to open a bank account?

The savings account and the current account are two of the basic banking products, and they are the basis for dealing with any other need with the bank.&nbsp;<h3>The current account:</h3>&nbsp;Is a non-interest-bearing account and often remains more useful to companies than individuals because it relies on large amounts of cash entering and exiting via checks or bank transfers.&nbsp;<h4>Its benefits:&nbsp;</h4>&nbsp;-Its main advantage for companies is the possibility of withdrawing any amount without the need to notify the bank in advance, which is useful for any company that needs to make deals quickly and without complications.-There is no limit on the number of transactions whether withdrawal or deposit, but of course, this varies from a bank to another.-The possibility of an overdraft, which is a kind of facility provided by the bank, means you can perform a transaction without having enough balance in the bank, but of course, there's a maximum limit, and an interest added to it.&nbsp;On the other hand, the minimum current account balance is usually high.&nbsp;<blockquote>Both account are the basis for dealing with any other need with the bank.</blockquote>&nbsp;<h3>The savings account:</h3>&nbsp;&nbsp;Is an interest-generating account, but the rate is lower than other banking products.&nbsp;<h4>Its benefits:&nbsp;</h4>&nbsp;-This account is very useful if you have a sum of money you do not need now, but you may need it soon. It is the perfect account type if you are putting some cash on the side in case of emergencies since there is an interest you will be receiving periodically on the account.&nbsp;-The account is estimated to be connected at any time, other than the deposit that is kept tied up for a specified period of time and if you unpack it, you may pay a fee.-Ability to withdraw at any time, if you don't exceed the daily withdrawal limit.-Ability to deposit or complete local or international bank transfers at any time.

Will you open your bank account soon, which type will you choose current or saving accounts?

Compare and choose the most suitable account type for you.

What’s the difference between savings and current accounts?

A lot of the time, individuals put undue pressure on themselves to save money to buy things that, in the end, if you come to think about it, are unnecessary. Do they really need all these things? It is important to consider if it is truly a need or simply a want.&nbsp;This desire to have it all may be due to societal pressures; feeling the need to fit in by doing as others do for instance. Over time, this becomes a burden and may cause unwarranted financial or psychological stress on us.&nbsp;To counteract this, the concept of minimalism was born and is now considered a way of life for many.&nbsp;&nbsp;<h3>What Does ‘Minimalism’ Mean?</h3>&nbsp;Simply put, it is the art of intentionally living with less and removing the distraction of excess possessions to focus more on those things you really need and that matter most.&nbsp;&nbsp;<blockquote>Minimalism is the art of intentionally living with less and removing the distraction of excess possessions to focus more on those things you really need.</blockquote>&nbsp;&nbsp;<h4>Advantages of Minimalism</h4>&nbsp;Savings:&nbsp;When you are truly aware of exactly what you need, can budget accordingly, and are not easily distracted by unnecessary things, this will undoubtedly save you a lot of money.&nbsp;Peace of Mind:&nbsp;After taking on the minimalistic approach in your daily life, you will gradually notice a reduction of stress and tension as the ‘crowding’ in your life begins to decrease, so to speak. This is because you have now chosen to focus solely on the things that add positivity to your life and lead you to a higher level of inner peace. The fewer things you have to worry about, the more peace you have. It’s that simple.&nbsp;Increase Focus and Stimulate Creativity:&nbsp;&nbsp;This is all about de-cluttering your life and focusing on your priorities. By maintaining a clutter-free environment in your home, mind, and life as a whole, you can increase your overall focus and productivity, thereby reducing stress.&nbsp;More Freedom:&nbsp;&nbsp;The accumulation of stuff ties us down, much like an anchor. We are constantly frightened of losing it, and this creates unnecessary anxiety. Let it go, and you will experience a freedom unlike any other: freedom from self-indulgence, obsession, and overthinking.

The meaning of Minimalism and its advantages and how it affect on our life?

Let's know the meaning of Minimalism and its effects on our life aspects

What is Minimalism and its advantages?

If you want to get a handle on your income and spending to either budget in general or save for a specific goal there are many ways to go about it. The easiest way to start is the 50-30-20 rule whereby you divide your income accordingly.
 
<h4>50% Major Obligations</h4>
 
The first 50% of your income is directed towards paying off major obligations such as:
 
<ul><li>Rent</li>
<li>Utilities</li>
<li>Major Installments (loans, credit cards, etc.)</li>
<li>Groceries</li>
</ul> 
This allows you to prioritize your major expenditures and if you are off-budget then you can still meet them
 
<blockquote>
That budget works whether you have a fixed or variable income (i.e. it changes monthly)
</blockquote>
 
<h4>20% Savings</h4>
 
The second 20% should be directed towards a savings plan with which you can save for major future purposes like a TV, trip, car or even a downpayment on a house
 
<h4>30% Discretionary Spending</h4>
 
This is the amount that's leftover, hopefully, it's 30% but if it's less you should stick to the smaller %. This is what you spend on eating out, shopping, and all the other little luxuries in life that are not necessary. 
 
<h4>The main benefits of the 50-30-20 method are:</h4>
 
<ul><li>It works whether you have a fixed or variable income (i.e. it changes monthly)</li>
<li>It’s easy to use and adjust (50-30-20 are not set in stone but are a general guideline)</li>
<li>It will make you aware of your spending habits and where you can save</li>
</ul> 
The most important thing in starting is having the will and determination. Even if you go off plan one month, that's ok, get right back on track the next one.

Read Faydety's blog to know How to use the 50 30 20 plan to save your money?

A new budgeting plan will help you with your salary

What is a 50-30-20 budgeting plan?

“Electronic branch! You can open an account, cash a cheque, deposit, or transfer money, and if you have an issue you can perform a video call with a customer service representative”
 
This statement grabbed all of our attention in the ads for the first “Electronic Service Branch” and we felt like we were transported to the future. 
 
<blockquote>
These branches are enabled with video calling to allow customers to speak to bank employees directly.
</blockquote>
 
<h4>But what is an E-Bank?</h4>
 
E-Banks are actually branches of banks that are fully digitally automated to perform all typical branch services without employees on-site through ATMs &amp; ITMs. But these branches are also enabled with video calling to allow customers to speak to bank employees directly if they have any issues.
 
<h4>Here's a list of services that you can perform in the E-Branch:</h4>
 
<ul><li>Open an account</li>
<li>Checking your account balances</li>
<li>Withdrawing funds</li>
<li>Depositing funds</li>
<li>Transferring of funds</li>
<li>Applying for some banking services through an E-Form</li>
<li>Depositing checks and cashing them out as well</li>
<li>Exchanging currency</li>
<li>Requesting checkbooks</li>
<li>Payment of certain bills</li>
<li>etc.</li>
</ul> 
The E-Branches also operate all days of the week from 10 am to 10 pm.

Read Fyadety's blog and know What is the meaning of the E-Bank, and how to use it?

When you will need to enter an E-Bank branch?

What is an Electronic Bank or E-Bank?

It’s the easiest payment card to issue, all you need to do is go to a bank with your ID and they will issue you one. You don’t need a bank account and can simply use it to pay for items and put money in it through the ATM network.&nbsp;<h4>What Are the main features/things to know:</h4>&nbsp;<ol><li>Issuance fees are minimal and are capped at LE 25</li><li>You can use it anywhere there's a POS machine or even online, much like a debit or credit card</li><li>There's a maximum daily spending limit that changes per bank, so make sure to check before you apply.</li></ol>&nbsp;<h4>The main benefits are :</h4>&nbsp;<ol><li>It's very safe: no need to walk around with a lot of cash</li><li>You can control your spending by putting an amount of cash in it that you’re allowed to spend</li><li>You can get a card as long as you turned 18 and use it online</li></ol>&nbsp;<blockquote>Meeza is the most famous kind of the Prepaid cards in Egypt</blockquote>&nbsp;<h4>There are different types of prepaid cards:</h4><ul><li><a href="https://meeza-eg.com/">Meeza</a></li><li><a href="https://www.egyptpost.org/enpo/en/Prepaid">The Post’s Prepaid Card</a></li><li><a href="https://aaib.com/en/site/error?title=%D8%A8%D8%B7%D8%A7%D9%82%D8%A9-4U-%D8%A7%D9%84%D9%85%D8%AF%D9%81%D9%88%D8%B9%D8%A9-%D9%85%D9%82%D8%AF%D9%85%D8%A7">AAIB Prepaid Card</a></li><li><a href="https://www.ca-egypt.com/en/personal-banking/get-a-card/pre-paid-card/">Credit Agricole Prepaid Card</a></li><li><a href="https://www.nbe.com.eg/Default.aspx?AID=3&amp;CID=12#Title">NBE Prepaid Card</a></li></ul>&nbsp;And you can know the difference between cards from here, What’s the difference between Visa, Master Card, and Meeza? &nbsp;

What is a prepaid card, and its famous types in Egypt as Meeza card and the NBE card

If you need a card without opening a bank account, then you need a prepaid card!

What is a Prepaid Card?

The duration of an investment certificate varies, starting from one year up to 10 years. There are three types of interest rates available - fixed, variable, and cumulative.&nbsp;&nbsp;A cumulative investment certificate&nbsp;is a medium or long-term certificate with optional durations of 3, 5, or 10 years. The difference between it versus other certificates is that rather than enjoying its benefits at the end of each year, you would do so at the end of the certificate’s duration.&nbsp;&nbsp;<h3>Method of calculating cumulative interest:</h3>&nbsp;&nbsp;<ul><li>This interest is calculated by multiplying the annual fixed interest with the cumulative interest rate. For instance, if you obtain a 3-year cumulative certificate of 1000 EGP at an annual fixed interest of 10%, you will receive 1100 EGP in the first year, 1210 EGP the following year, and 1331 EGP the third year. The cumulative interest, in this case, would be 33.1%.</li></ul>&nbsp;<ul><li>However, if we compare it with a fixed interest rate, we will find that the fixed certificate consists of multiplying the annual fixed interest with the amount deposited over 100%. This means that if you obtain a 3-year fixed certificate of 1000 EGP at an interest of 10%, you will receive 1100 EGP in the first year, 1200 EGP the following year, and 1300 EGP in the third year, as long as you do not withdraw the interest that is given to you monthly, every 3 months or every 6 months. You also have the option of an annual interest, which would have to be agreed upon with the bank when opening your certificate. The interest would be maintained at 10% for the length of the certificate duration.</li></ul>&nbsp;&nbsp;<h3>Minimum/Maximum Limits:</h3>&nbsp;&nbsp;As with other certificates, the cumulative certificate has no maximum limit. However, in terms of a minimum limit, most banks approve it within a range of 500 EGP to 1000 EGP, with the exception of the National Bank, which approves it from 100 EGP. There have been instances where the amount has reached 5000 EGP in certain banks.&nbsp;&nbsp;<h3>Certificate Features:</h3>&nbsp;<ul><li>There is more than one type of return offered by banks; monthly, quarterly, bi-annually, or annually</li></ul>&nbsp;<ul><li>You may use the certificate as a guarantee to apply for a credit card</li></ul>&nbsp;<ul><li>In certain banks, you may use the certificate as a guarantee to apply for loans</li></ul>&nbsp;<ul><li>The certificate may be broken after 6 months of its purchase, with a discount rate set by each bank</li></ul>&nbsp;<ul><li>Certain banks offer special benefits, such as the Housing and Development Bank, which gives cumulative certificate owners the right to choose a housing unit from one of their projects, provided that the purchased certificates represent about 50% of the unit’s value</li></ul>&nbsp;&nbsp;<h3>Paperwork Required To Open A Certificate:</h3>&nbsp;&nbsp;<h4>Current Customers</h4>&nbsp;Each bank has different requirements; for some, if you are a current customer, you will need to fill out an application to open a certificate, whereas, in others, you may not need to do any extra paperwork at all.&nbsp;<h4>New Customers:</h4>&nbsp;<ul><li>Photo of National ID</li><li>Utility bill</li><li>Form to open an account</li><li>Request to open a certificate</li></ul>

Everything to know about cumulative investment certificate including features and methods

Let's know the features of Cumulative Investment Certificate

What Is The Meaning Of  Cumulative Investment Certificate?

Between your family and friends, you are very likely to find those that use medical insurance provided to them through their jobs, others who are provided treatment at the government's expense, and those who receive medical treatment at their own expense and so on. As illnesses usually tend to appear unexpectedly, we cannot always afford the medical treatment expenses. As a result, the government has made things easier on us by creating and implementing a ‘Universal Health Insurance’ project that helps all Egyptians get treatment at a small cost.&nbsp;This is a project which the Egyptian government founded in the second quarter of 2019. It is a social solidarity program aimed at providing high-quality health services to all groups of society; the government also pays all the costs of treatment for those unable to do so.&nbsp;The project’s official Facebook Page is&nbsp;<a href="https://www.faydety.com/article?link=https://www.facebook.com/UHIEG/">Universal Health Insurance</a>.&nbsp;This project's overall cost is about 80 to 120 billion EGP, and it will be applied in all governorates of Egypt within the next 15 years as of 2019. Port Said was the first governorate in which the trial operation of this insurance system was applied, and for two months, they succeeded in that 3,693 surgeries were performed, saving dozens of lives and helping those in need. Following this, the Governate of Ismailia registered and provided coverage for 900,000 of its residents, approximately 66% of the Ismailia Governorate's total population. This took place from October 2019 until September 2020.&nbsp;<blockquote>The government pays all the costs of treatment for those unable to do so.</blockquote>&nbsp;<h3>What are its benefits?</h3>&nbsp;<ul><li>Each citizen will have a personal medical file left with the family doctor, which includes his/her medical history, that way there can be continuous follow-ups with his/her doctor, if necessary.</li><li>The patient will contribute to his treatment with a small percentage, a maximum of 5% for operations and 10% for X-rays and analyses/tests.</li><li>Participation in the Universal Health Insurance scheme is compulsory for all Egyptians.</li></ul>&nbsp;<h3>What do you need to do to benefit from Universal Health Insurance?</h3>&nbsp;You must be subscribed to a health insurance plan and pay all premiums on time. If you are unable to do so, the service will stop, except in cases of emergency.&nbsp;

What do you need to know ablout the new system of the Universal Health Insurance?

All the details about Universal Health Insurance

What is Universal Health Insurance?

As with most industry professionals, bankers tend to have their own work terminology. You may not understand this terminology unless you’ve visited the bank several times and have started to pick up on some things. Here, we will give you a brief overview of some basic concepts to give you a helping hand.&nbsp;<h3>Current Account</h3>&nbsp;This is a type of bank account where you can store and withdraw money without any interest on your deposits. Current accounts are usually used for day-to-day banking. This account facilitates various actions, including payments of phone bills, utility bills, rent payments, and making cash deposits. In addition, most people will get their salaries paid into their current accounts. &nbsp;<h3>Savings Account</h3>&nbsp;A savings account is a type of bank account that allows you to deposit and withdraw funds at your convenience while earning interest on your contributions, with quarterly, bi-annual, or annual returns. Minors can open a savings account through a designated guardian.&nbsp;To learn more about these two account types, check out <a href="https://www.faydety.com/en/learn/finance101-3/what%E2%80%99s-the-difference-between-savings-and-current-accounts--93">the difference between a savings account and A Current Account.</a> &nbsp;<h3>Overdraft Account</h3>&nbsp;This is a current account that is opened with a deposit guarantee or a certificate of deposit. The main benefit of an overdraft account is money can still be withdrawn from it, even if the account balance goes below zero. It is a type of extension of monetary limit or a type of loan offered by banks. A customer can withdraw money up to an authorized limit. However, it is important to note that banks charge an interest rate on the money withdrawn, and there is usually a fee per overdraft. &nbsp;<h3>IBAN</h3>&nbsp;IBAN is a bank account number recognized by banks and financial institutions worldwide, which helps facilitate the transfer of funds from abroad. This is the standardized method of identifying a bank account, which reduces errors and delays in sending international payments.&nbsp;<blockquote>A savings account is a type of bank account that allows you to deposit and withdraw funds at your convenience while earning interest on your contributions</blockquote>&nbsp;<h3>Check Endorsement</h3>&nbsp;When someone pays you by check, you usually have to sign it before you can deposit it in your account. To do this, turn it over and sign your name on the back to endorse/approve it. By doing so, you authorize your bank to settle the funds associated with the check. &nbsp;<h3>Crossed Check &nbsp;</h3>This type of check is intentionally crossed with two parallel lines, either across the entire check or on the top left-hand corner. This signifies that the check may only be deposited directly into a beneficiary’s bank account and cannot be immediately cashed by a bank or any other financial institution. &nbsp;<h3>P.O.S. Machine</h3>&nbsp;A POS (Point of Sale) machine is an electronic device that accepts and processes credit and debit cards payments. Most retail stores use these machines to facilitate payments of their goods and services.&nbsp; &nbsp;<h3>Investment Fund</h3>&nbsp;This is a financial pool in which capital is calculated in the millions and owned by a large number of investors. It is generally run by trading specialists and experts in the stock market, whose primary role is to thoroughly examine which companies to invest in and accordingly make buying and selling decisions on your behalf. This reduces the risk of trading without sufficient experience on your part. &nbsp;Learn more about the stock market here; <a href="https://www.faydety.com/en/learn/finance101-3/what-is-the-stock-exchange-know-more-about-what-are-shares--29">What Is The Stock Exchange? How to Start Investing in Stocks!</a> &nbsp;<h3>Buyout Debt &nbsp;</h3>If you have an existing loan from your bank that you are struggling to pay off, it is possible for another bank to ‘buy your debt’ and help you settle this loan. This is useful in many cases. For instance, let's say you want to take out a new loan at a bank and have installments to pay in another bank. Instead of paying each institution separately, you can move all your debt to the new bank, which will essentially ‘buy the debt you owe and, thus, you can pay all your debts in one place. &nbsp;

Learn how to understand banking terms to deal better with bankers.

Understand banking terms to deal better with bankers.

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