NAEEM forced to pull down campaign
Egyptian investment bank NAEEM launched a new OOH campaign at the beginning of the month that has caused a bit of uproar within the banking industry.
The design of the ads seemed to offer a 26% interest rate of return for deposits on a particular Banque Misr fund. Alerted by the confusion of such a high interest rate, Banque Misr’s chairman felt forced to declare that the campaign contained “false publicity” and that their fund could not fulfill such rates.
Amid the controversy, NAEEM has decided to follow the instructions from the Egyptian Financial Supervisory Authority and removed the campaign before the issue became any bigger. The investment holding company enjoys a strong reputation as one of the leading investment banking institutions in the Middle East. With offices in Egypt and the UAE, NAEEM has a significant regional presence and receives individual and institutional investors from across the MENA region.
Stay tuned for the upcoming replacement ads!