Cairo – Mubasher: Egypt’s Ministry of Finance (MOF) plans to cancel dealing with paper cheques starting December.
Sub-accounts will be deactivated due to shifting to e-payment and linking these accounts to the treasury single account (TSA) banking system at the Central Bank of Egypt (CBE), vice minister of finance for treasury affairs Mohammed Maait said in a statement on Wednesday.
This step aims to apply the Government Fiscal Management Information System (GFMIS) within the state's administrative body, Maait added.
The announcement came during a seminar held at Cairo University to introduce the GFMIS and discuss its objectives. The event was held in the presence of MOF and Cairo University officials.
Maait had previously noted that the TSA system will be completely finalised by the forthcoming November.
