Industrial Development Bank Honored by eFinance for First Foreign-Currency Tax Payment via CPS Platform
The Industrial Development Bank (IDB) announced that it has received an honorary shield from eFinance for Financial and Digital Investments, in recognition of the bank’s successful execution of the first foreign-currency tax bill payment through the Corporate Payments System (CPS). The achievement reflects IDB’s commitment to advancing digital transformation and strengthening Egypt’s electronic payments ecosystem.
This recognition crowns the bank’s ongoing efforts to implement its digital transformation strategy and deliver innovative banking solutions tailored to corporate clients. These efforts aim to simplify payment procedures, enhance financial operational efficiency, and support a more competitive business environment.
Commenting on the achievement, Hussein Refaie, CEO and Managing Director of Industrial Development Bank, expressed pride in the recognition, stating that it underscores the bank’s strategic direction toward digital transformation and its focus on developing integrated banking services that meet the evolving needs of corporate customers, while facilitating and streamlining financial transactions.
Refaie also emphasized the importance of strategic partnerships with leading national entities, particularly eFinance, in supporting the electronic payments infrastructure and contributing to the state’s vision of building a robust digital economy.
The bank reaffirmed its commitment to continued investment in technological infrastructure and the expansion of digital services, enhancing its ability to provide secure and efficient financial solutions while supporting national goals related to digital transformation and financial inclusion.