Egypt’s service e-bills grow by 223% since 2019: Finance minister
- 27 September 2020 / News / 40 / Khaled Zaki
10 phases of the electronic payment and collecting system have been carried out starting May 2019, including providing 17,000 GPOS for electronic payments and collecting in the administrative bodies across the country
Egypt’s government service e-bills grew in one year by 223 percent at the end of July, Minister of Finance Mohamed Maait said on Thursday.
Maait said 10 phases, started in May 2019, of the electronic collecting system have been carried out, including the installation of 17,000 ATMs nationwide.
He added that starting October university students may pay fees electronically to overcome crowding amid the ongoing COVID-19 crisis.
Maait noted that the increase in government service e-bills reflects the improvement in Egypt’s e-payment system, which helped in raising Egypt's rank in international indices, especially those focused on transparency and ease of doing business.
He added that the system is part of the Digital Egypt Project, contributing to a piecemeal shift to a non-cash economy, and enhances financial inclusion.
Maait said implementing regulations on the non-cash payment instruments law, which the cabinet approved recently, contributes to promoting e-payments in the public and private sectors. He added the ministry will give the bodies subject to the law a six-month period to reconcile by providing e-payment access to their clients.
“No extra fees will be imposed on individuals for paying electronically for government services. The treasury shoulders the commissions on using the e-payment service through ATMs," he explained.
Head of the e-payment and collecting unit at the finance ministry, Samar Adel, said the ministry has collaborated with the banking sector to make payments and dues repaying available through the QR Code portfolios using the electronic collecting units in administrative bodies and via mobile phones, which is safer and easier amid the ongoing coronavirus crisis.
She revealed that the ministry is considering launching online platforms for individuals and corporations to pay bills for governmental services.
In July, Maait said the state budget lost EGP 3 billion in revenues from April to June as a result of the COVID-19 crisis.
Egypt : Al Ahly Sabbour, LVNG to develop 2 international schools at Mostakbal City
- 28 October 2020
Egyptian developer Al Ahly Sabbour and New Giza for School Management (LVNG) signed a Memorandum of Understanding (MoU), last Wednesday, to develop two international schools in East Cairo.The agreemen...
Egypt : ABE Chairperson explores finance schemes for agricultural projects in Toshka
- 28 October 2020
Alaa Farouk, Chairperson of the Agricultural Bank of Egypt (ABE), accompanied by the bank’s Vice-Chairperson Sami Abdel-Sadik, and Chief Credit Officer Saleh Al-Shami, and other ABE officials pai...