FILE - Ministry of Finance
CAIRO - 16 September 2018: All payments surpassing LE100,000 ($5,618) must be paid electronically to any governmental body starting January 2019, Finance Ministry announced Saturday.
In case of resorting to cash, citizens will be fined up to LE10,000 ($562) to cover the ensuing expenses. The decree is part of the state’s plan to achieve financial inclusion and transition to a cashless society, and accomplish the Government Financial Management Information System (GFMIS).
The ministry is setting programs to train employees on using the new electronic system, and developing the necessary infrastructure such as introducing enough computers and internet in concerned governmental buildings, locating points procurement machines all over the country, and issuing cards to be used by citizens for any governmental payments.
Currently, 12 employees at the country’s administrative bodies use payment roll cards while ration cards have been digitized. The ministry is also mechanizing services at the Tax Authority, and Customs Authority as well as the Tax-Sheltered Annuity (TSA).