Time: June 02, 2018
Saudi Arabia’s Finance Minister Mohammed Al-Jadaan announced obtaining the Royal Decree on suspending all procedural and financial transactions paperwork, in a final transitioning move into e-governing. Adopting a digital platform in the country supports transparency, and opens up more competitive lines for SMEs.
Welcoming the decree, Jadaan said the move comes as part of the Kingdom’s Vision 2030.
The royal decree ordered ministries and other government agencies to scrap paper documents related to procedures and financial transactions and install a digital system within 60 days.
Jadaan affirmed that authorities under the auspices of King Salman and Crown Prince Mohammed bin Salman will ensure a full transition into digital platforms.
State bodies that fail to fulfill this task within the determined duration should send their reasons for review to the finance ministry in participation with the Ministry of Communications and Information Technology, Jadaan said.
The Etimad digital platform, launched on January 21, aims at providing digital financial services to the public and private sectors.
E-services will help in saving time and efforts through scrapping paper transactions and achieving a higher degree of transparency, Jadaan said.
The finance ministry has already completed the automation process of the budget management, as well as the digitalization of purchases, tenders, contracts, payments and state-employees’ financial benefits.
King Salman issued a royal decree on Friday ordering all ministries and government agencies to scrap paper transactions in financial procedures and to fully adopt using the e-services of Etimad digital platform within 60 days.
In light of the Vision 2030, the Saudi Ministry of Finance aims to enable the Kingdom’s economy to be among the 15 largest economies in the world by 2030 through developing a distinct financial system.
The Ministry has adopted strategic and steadfast objectives based on five pillars related to the development of sustainable fiscal policies, optimizing the allocation of financial resources, improving efficiency through management, improving accounts quality, enhancing transparency, optimizing the utilization of state assets and enhancing the Kingdom’s position globally and regionally.