Three Egyptians have won a total of 200,000 EGP before taxes in United Bank's October 2026 Millionaire Certificate draw, showing the strong pull of prize-linked savings in Egypt.
United Bank has named three new winners in its October 2026 Millionaire Certificate draw. The bank awarded a total of 200,000 Egyptian pounds in cash prizes before taxes. Fadia Fahmy Basily Hindi took the top spot with a 100,000 EGP prize. Two other customers each received 50,000 EGP. After taxes, the winners split 140,000 EGP. But there's a catch. No official confirmation of these results or the winners' names appears on the Central Bank of Egypt's website or in formal statements. The numbers remain unverified by regulators, according to the Central Bank of Egypt.
The Millionaire Certificate has become a familiar name for Egyptian savers. It promises a fixed return and a shot at a big payout. The October draw keeps the product in the spotlight. Banks in Egypt are fighting hard for deposits and customer loyalty. Still, neither United Bank nor the Central Bank of Egypt has released an official statement confirming the draw or the tax details. Anyone following these results should keep that in mind.
Winners and prize breakdown
Three people won in the latest draw. Fadia Fahmy Basily Hindi took home 100,000 EGP for certificate number 2200271765, bought or renewed on 30 October 2022. After taxes, she received 70,000 EGP. Romany Matta Abdel Sayed won 50,000 EGP for certificate number 2400030641, purchased or renewed on 7 March 2024. His net payout was 35,000 EGP. Michael Sabry Gendy Gerges also won 50,000 EGP for certificate number 2600020291, purchased or renewed on 18 March 2026. He received 35,000 EGP after taxes. Each prize was cut by 30 percent for taxes. But the legal basis for this rate is not confirmed by Egypt's tax authorities or the Ministry of Finance.
The total prize pool before taxes was 200,000 EGP. After taxes, the winners shared 140,000 EGP. United Bank did not say what tax rate it used. The deductions match Egypt's usual approach to lottery and prize winnings. A 2026 tax overview says interest on bank deposits for Egyptian residents is not taxed, but other investment income can be. There is no clear confirmation of a 30% withholding on United Bank's prize draws.
How the Millionaire Certificate works
The Millionaire Certificate is a savings product from United Bank. Customers buy certificates, each with a unique number. These certificates go into regular prize draws. The winners' details show that certificates can be bought or renewed at different times. The product mixes the safety of a bank deposit with the thrill of a lottery. It's a popular model in Egypt's retail banking market. The Central Bank of Egypt sets monetary policy and oversees banks, but it has not published official rules or a schedule for the Millionaire Certificate. The rules remain unclear.
Winning a big cash prize is the main draw. But the product also helps banks attract long-term deposits. Only active certificates are eligible for each draw, so customers are encouraged to keep their money in the bank. Other banks in Egypt have launched similar products, as seen in recent coverage of new savings and deposit certificates. The International Monetary Fund (IMF) has said that these savings incentives can help boost financial inclusion and bring in more deposits, especially when the currency is unstable or inflation is high.
Taxation and net winnings
Taxes make a big difference for winners. In the October 2026 draw, each prize was cut by 30 percent. The total announced prize pool was 200,000 EGP, but the three winners received 140,000 EGP after taxes. This tax treatment is standard for lottery-style winnings in Egypt. Anyone thinking about buying a certificate should factor this in. Still, the Central Bank of Egypt and the Egyptian Tax Authority have not published official guidance on the exact tax rate or how it is applied to these products.
The Millionaire Certificate is not like a fixed-term deposit. Fixed deposits pay a set interest rate but offer no chance at a big prize. The certificate's appeal is its hybrid nature. It combines savings with the hope of a large, though unlikely, payout. The Bank for International Settlements (BIS) has noted that prize-linked savings can help banks keep deposits steady, especially in countries where exchange rates and inflation affect how people save.
Prize draws as a savings incentive
Prize-linked savings products like the Millionaire Certificate are now a regular feature in Egypt's banks. They offer something different: the safety of a deposit and the excitement of a lottery. Banks use these products to keep customer funds for longer, which helps with liquidity and deposit growth. For savers, the chance to win a big sum is a strong motivator, even if the odds are slim. The Central Bank of Egypt's decisions on interest rates affect how attractive these products are compared to regular savings accounts.
The October 2026 draw shows that demand for these products is still high. Taxes and competition among banks have not slowed interest. Other banks are rolling out new savings certificates, so the market for prize-linked deposits is still growing. As banks look for ways to stand out and win new customers, the Millionaire Certificate model will likely stay important in Egypt's retail banking. The IMF and other international regulators are watching how these products develop as part of wider financial reforms in the region.
Prize-linked savings work in a simple way. Customers deposit money and get certificates. Each certificate is an entry into a draw. Unlike regular lotteries, the original deposit is usually safe, and customers can withdraw their money according to the product's rules. This appeals to people who want a chance at a windfall but do not want to risk their savings. Still, the odds of winning are low. After-tax prizes are what really matter when deciding if it's worth taking part.
