NBE In Talks With FinMin, E-Finance To Collect Customs Duties Electronically

The National Bank of Egypt currently conducts negotiations with the Ministry of Finance and E-Finance to collect customs duties electronically, sources said.

The bank plans to start applying this service during the second half of 2013, as part of its strategy to develop its IT infrastructure as the bank currently collects customs charges only in cash, sources added.

The total value of customs fees collected by the bank from July 2012 to December 2012 reached EGP 425 million. The total value of taxes collected by the bank reached EGP 51.300 billion through checks and EGP 1.433 billion electronically.

NBE has more than 1300 ATMs and the total volume of transactions conducted through ATMs reached EGP 40 billion in the last fiscal year.