Finance Ministry signs cooperation protocol with E-finance Company of the Egyptian Ministry of Finance

Libya’s Tripoli-based Minister of Finance, Khaled Mabrouk, signed a cooperation protocol in Cairo yesterday with the E-finance Company, which is part of the Egyptian Ministry of Finance.

The protocol comes within the framework of the Libyan-Egyptian Partnership Agreements and the Libyan government’s efforts in development and digital transformation of information management and government financial data.

In this context, Minister Mabrouk and his accompanying delegation visited the headquarters of the Egyptian Ministry of Finance to learn about the Egyptian experience in the field of development and digital transformation of the government financial system and the agencies affiliated with the ministry such as the Tax Authority and the Customs Authority.

They also visited what they reported as being one of the most important arms of the Egyptian Ministry of Finance, the E-finance Company, which developed the financial system and digital transformation of the Egyptian Ministry of Finance and established the unified treasury account system and the electronic payment and collection centre for the ministry.

The meeting was held with the company’s officials and those in charge of developing these projects, as well as learning about the challenges and difficulties they faced in this, in order to transfer the Egyptian experience and adopt it to the Libyan Ministry of Finance.

The implementation of these projects comes through the Ministry of Finance benefiting from financial grants and technical assistance provided by regional financial institutions such as the African Development Bank and the Islamic Development Bank to the financial institutions of contributing countries, in order to achieve the Ministry’s goals in developing and digitizing the information and data management system, working with the unified treasury system, and electronic payment and collection.