CIB is the bank most Egyptian freelancers use to receive international USD wires. Pull client payments out of your CIB PDF — original Arabic labels intact — in seconds.
Convert your CIB statementEgypt's freelance economy runs on international clients. Upwork, Fiverr, direct US and EU contracts — most of that income lands in a CIB account because CIB is the private bank Egyptian professionals use for USD holdings and outbound FX. Many CIB freelancers hold both an EGP current account and a USD account in the same client number, and statements arrive as separate PDFs per currency.
The Egyptian Tax Authority (ETA) expects annual disclosure once your foreign income passes EGP 60,000. They want gross receipts, not net of CIB's FX conversion. A converted spreadsheet lets you isolate each "حوالة وارد" credit, keep the original USD amount from the SWIFT description, and apply the CBE rate yourself.
CIB issues a clean bilingual PDF (Arabic and English). Columns run date (DD/MM/YYYY), Arabic description, debit (EGP), credit (EGP), running balance. Account-summary header carries IBAN, statement period, opening and closing balances. International wires appear with the Arabic label "حوالة وارد" followed by the sender's SWIFT BIC and reference.
If you hold a CIB USD account alongside the EGP one, you'll receive two separate statements. The USD statement uses identical column structure with USD amounts. Post-2022 EGP devaluation periods (March 2022, October 2022, January 2024, March 2024) produced large balance swings on FX-linked rows — Kashfbank preserves the original amount and currency.
Egypt taxes worldwide income for tax residents. The ETA wants gross foreign receipts converted at the CBE rate on each transaction date — not the rate CIB happened to apply. Keep the original USD figure visible so you can recompute if challenged.
Professionally formatted bilingual PDF (Arabic and English). Clear columns: date, transaction description, debit, credit, EGP balance. Account summary header shows account number, IBAN, statement period, opening/closing balance. Both current account and credit card statement formats are supported. EGP two-decimal formatting. Post-2022 statements may show large balance swings due to EGP devaluations affecting FX-linked entries. Meeza card transactions appear with the Meeza network label.
| Label | Meaning |
|---|---|
| إيداع نقدي | Cash deposit at branch or CDM |
| POS مشتريات | Point-of-sale purchase (card payment at merchant) |
| تحويل ATM | Transfer initiated via ATM |
| Smart Wallet | Mobile wallet transaction (CIB Smart Wallet or Meeza Digital) |
| Salary | Employer salary deposit (WPS or direct credit) |
Egypt's large informal freelance sector means many transactions are cash or Vodafone Cash; bank statements will show only the formal income that flows through the account, requiring supplementary records for full disclosure.
Pull both CIB statements
Open CIB Mobile, request 12-month statements for your EGP account and your USD account separately. Each downloads as its own PDF. Upload both to Kashfbank.
Verify currency tags per file
Confirm the EGP statement is tagged EGP and the USD statement is tagged USD. Kashfbank reads the account-summary header on each PDF independently so no rows get mis-converted.
Filter to inbound client wires
Sort the Category column to keep "International Wire" and "Inbound Transfer" rows. Drop FX Purchase, POS spend, and internal transfers between your two CIB accounts.
Export and apply CBE rates
Download the CSV. For each USD wire row, look up the CBE official rate on the transaction date and write the EGP-equivalent into a new column. Your accountant uses this column for the return.
Common challenges
Does Kashfbank read CIB's Arabic labels correctly?
Yes. CIB statements are bilingual and Kashfbank keeps both languages on each row. The Arabic "حوالة وارد" label and the sender's SWIFT BIC stay on the same line, which is what your accountant needs to match each deposit to an invoice.
I hold a USD account at CIB. Can it process both statements together?
Upload each PDF separately. Kashfbank produces one CSV per file, each tagged with its base currency. You can merge them in Excel afterwards if you want a single combined view.
Which exchange rate does the ETA accept for foreign income?
The Central Bank of Egypt's official rate on the transaction date. CIB's wire-conversion rate is usually close but not identical. Use the CBE rate for the return and keep both figures in your records.
How long should I keep the original CIB PDF?
Egyptian tax law requires record retention for five years from the filing date. Keep the CIB PDF, the converted CSV, and your invoice copies for at least that period.
Tax Preparation
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Regulator: Central Bank of Egypt (CBE)
Fiscal year: Jul 1 – Jun 30 (government); Jan–Dec (private sector)
Full country guide →Statement language: Arabic / English