Ministry of Finance, MCIT Jointly Cooperate to Maximize Technological Solutions Benefits

Daily News Egypt
6 Min Read

Minister of Communications and Information Technologies (MCIT) Amr Talaat agreed with Minister of Finance Mohamed Moeit on four main areas of cooperation between the two ministries during the coming period, as part of the implementation of the state plans for digital transformation and financial inclusion.

This came during a meeting held between Moeit and Talaat. The meeting witnessed extensive discussions on maximising the use of technological solutions in developing financial transaction procedures in various service and commercial fields.

The minister of finance stressed during the meeting the importance of cooperation with the Ministry of Communications and Information Technology because of its capabilities and expertise to help many ministries to develop their services, in addition to supporting their efforts in adopting the mechanisms of electronic connectivity in order to tighten control over the services they provide. “We are keen to cooperate and integrate our efforts for the well-being of this country,” Moeit said.

“We are making every effort to increase the resources of the state through the rapid move towards all activities that contribute to the achievement of this goal, particularly with regard to increasing public investments that directly contribute to the provision of employment opportunities for youth, which will be achieved through continued concerted government and society,” the finance minister said, stressing that the world looks at Egypt more respectfully due to the fulfilment of its obligations and keenness to implement real economic reforms.

He said that Egypt needs to integrate all financial transactions, whether taxes, customs, or other governmental bodies; therefore, they are working to achieve this, taking into account that it is a national goal agreed by all. “In order to achieve this goal, we draw on international experience because of its experience in this area. Development includes the common system of financial transactions, whether executive decisions, laws, invoices, financial statements, and other customary transactions. There is no difference here between a large institution and a small company, and it is obligatory for all,” he further explained.

For his part, the minister of communications and information technology reviewed a number of topics of mutual interest, stressing the importance of using technological solutions to enable the different sectors of the state to develop the country’s economic resources, as well as its role in combating corruption.

Talaat also affirmed the ministry’s readiness to provide its expertise and all possibilities within the framework of cooperation and coordination with various state institutions, in order to provide secure infrastructure and information for projects of the Ministry of Finance, as well as all government projects that help achieve the transition to the digital society and enhance financial inclusion.

Ministers agreed on several points

The formation of a joint committee to develop solutions that contribute to improving the services provided to citizens. The committee will hold its meetings periodically to expedite the development of the work plan and the required proposals. It will also discuss means of enhancing cooperation by taking advantage of the technical expertise of the Ministry of Communications and Information Technology to upgrade the services of the Ministry of Finance. The ministers affirmed the need to implement the e-bill to ease the commercial and service community transactions and the state’s access to its rights.

Draft a protocol of cooperation between the Ministries of Finance, Communications and Information Technology on coordination of efforts on joint topics and initiatives between the two sides with a view to preserving and developing the resources of the state’s public treasury.

Preparation of a unified national project linking taxes, insurances, and banks, and recording all data through the design of a programme by the Ministry of Communications and Information Technology to achieve this goal, with a full conception of this system and its mechanism of work, as well as put forward for compatibility between the two ministries. The two sides also stressed the importance of launching this platform with a law to commit everyone to sign up in it.

The meeting also discussed the importance of continuing joint cooperation in the framework of the government’s efforts to implement the directives of President Abdel Fattah Al-Sisi to quickly implement the first phase of the comprehensive social health insurance law. The ministries of finance and communications and information technology are working hard on this new system.


We plan to achieve a transformation into a digital society, enhancing financial inclusion

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