NBE: Customs Duties Hit EGP 25 Mln In July

The National Bank of Egypt (NBE) stated that the customs duties collected in July reached EGP 25 million, which were paid all in cash, said Mohamed Ihab, head of banking services group at NBE. In addition, NBE received EGP 6.7 billion in taxes through checks and EGP 49 million in taxes electronically in July 2012.

The value of payments targeted to be collected this year by the bank is more than EGP 130 billion, he added. NBE collected about EGP 82 billion in taxes electronically in FY 2011/2012, accounting for 97% of the total value of the electronic payments.

NBE allocated 93 branches of its 270 branches for conducting such payments. The bank has 1253 ATMs which conducted transactions worth EGP 40 billion in 2011.