NBE Collects EGP 49 Mln In Taxes Electronically In July

The National Bank of Egypt (NBE) succeeded in collecting about EGP 49 million in taxes electronically in July 2012, said Mohamed Ihab, head of banking services group at NBE.

The value of payments targeted to be collected by the bank is more than EGP 130 billion, he added. NBE allocated 93 branches of its 270 branches for conducting such payments.

NBE succeeded in collecting about EGP 82 billion in taxes electronically in FY 2011/2012, accounting for 97% of the total value of the electronic payments. NBE has 1253 ATMs which conducted transactions worth EGP 40 billion in 2011.