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Industrial Development Bank (IDB) announced that it has received an honorary shield from eFinance – the Financial and Digital Investments Company, in recognition of the Bank’s success in executing the first tax payment transaction in foreign currency through the Corporate Payments System (CPS). This milestone reflects the Bank’s strong commitment to advancing digital transformation and developing electronic payment systems.

This recognition comes as a culmination of IDB’s efforts in implementing its digital transformation strategy and providing innovative banking solutions to its corporate clients, contributing to the simplification of payment procedures, enhancement of financial operations efficiency, and support of the business environment.

In this context, Mr. Hussein Refaie, Chief Executive Officer and Managing Director of Industrial Development Bank, expressed his pride in this achievement, stating:

“This recognition reflects Industrial Development Bank’s commitment to its strategic direction toward digital transformation, as well as its keenness to develop integrated banking services that meet the evolving needs of our corporate clients and contribute to facilitating financial transactions and enhancing their efficiency.

We firmly believe in the importance of strategic partnerships with leading national entities, foremost among them eFinance, to support electronic payment systems and align with the State’s vision for building a robust digital economy.”

The Bank reaffirmed its continued investment in technological infrastructure and the expansion of digital services, enhancing its ability to provide secure and efficient financial solutions, while supporting the State’s plans for digital transformation and financial inclusion.

IDB… Your Trusted Partner Toward an Advanced Digital Future