National Bank of Egypt Eyes Compliance with US FATCA, Inks Pact with PwC

Aiming to comply with the Foreign Account Tax Compliance Act (FATCA)’s terms, National Bank of Egypt (NBE) signed today a contract with Price Waterhouse (PwC).

As pursuant to the contract, PwC will provide the NBE with the technical consulting and the technological infrastructure needed to meet with the terms and conditions of FATCA.

Moreover, according to a banking source near from the deal, NBE had made the agreement with PwC to adopt the US FATCA measures after making amendments to its automated systems.