Societe Arabe Internationale De Banque (SAIB) launched recently a program for electronic payment of customs duty. The first payment transaction was made last Thursday where the bank transferred the value from the customers’ accounts at the bank to the Central Bank of Egypt’s unified treasury account.
The program was executed by E-finance Company, subsidiary of Ministry of Finance, as part of the e-payment development program sponsored by the Ministry in collaboration with the Central Bank of Egypt and banks operating in Egypt.
The program was designed to accelerate the collection process of government dues as customers can conduct the payment transactions during the 24 hour period.
In addition, the e-payment program provides customers with an easy service which is free from bureaucracy.
