Capital Banking Solutions Collaborates with Alraya Consulting and Training to Educate Egyptian Banks on FATCA Compliance Requirements

Cairo, Egypt – May 28, 2014 – Capital Banking Solutions, a provider of FATCA Compliance software, today announces its partnership with Alraya Consulting and Training Ltd in order to inform banks across the Middle East and Africa of important FACTA deadlines, rules and strategies for achieving compliance. 

The companies are hosting an educational workshop this Thursday, the 29th of May at the Intercontinental Cairo Semiramis Hotel, Pavilion Hall, from 2:30 to 8:00 pm.

FATCA imposes a serious financial penalty on financial institutions unless they comply with the new US IRS tax regulations which require individual banks and brokerage companies to identify, document and report their US account holders or investors.

Speakers Hany Abou-El-Fotouh, the Founder and President of Alraya Consulting and Training Ltd, Amr El-Antably, the Chief Compliance Officer at the National Bank of Kuwait, and Georges Kouchakji, the Business Development Manager at Capital Banking Solutions will cover key topics including:

·        Overview of FATCA, including effective dates, requirements for implementing new tax reporting systems

·        The significant penalties for non-compliance

·        The implication of FATCA rules for the financial service industry

·        Leveraging technology to comply with FATCA rules