Cairo – Mubasher: Dealing with government paper cheques will be abandoned starting Thursday, 30 November 2017, Egypt’s finance minister Amr El-Garhy revealed in a statement on Wednesday.
Hence, about 61,000 sub-accounts of the state administrative body will be deactivated as government entities will be shifting to e-payment and linking these accounts to the treasury single account (TSA) banking system, according to a statement released by the Ministry of Finance (MoF).
This move aims at taking a step forward applying the Government Fiscal Management Information System (GFMIS) within the state's administrative body, El-Garhy highlighted.
The government has completed about 50% of the GFMIS as it will be finalized on 31 March 2018, the minister noted.
