Egypt: Finance Minister Affirms Importance of Governance of Issuing State Documents

Minister of Finance Mohamed Maait underscored the importance of developing a unified system that ensures the governance of issuing state documents, adding that such system shall entail re-engineering administrative procedures related to issuing documents of the ministry and its affiliated bodies.

The system will also build an integrated database in cooperation with the secured and smart documents complex, Maait said on Wednesday 7/4/2021 during President Abdel Fattah El Sisi's inauguration of the complex on the Cairo-Ain Sokhna road.

Maait reviewed aspects of cooperation with the new complex that would benefit the finance ministry and its affiliated bodies, noting that President Sisi has directed the government to create a unified system that ensures the governance of issuing state documents.

What is mostly important for the Ministry of Finance is attempting to slash losses in state treasury's revenues via reducing forgery and smuggling, as well as via preserving the State's rights and those of the citizens, he said.

He added that the new system will also contribute to facilitating product traceability in relation to taxes and customs, which he said helps lessen importing costs.

The finance minister said President Sisi has directed the government to ensure that all State contracts are automated, secured and coded in a database that can be reviewed anytime with a view to protecting the State's rights.

Maait added that 15 unified forms have been formulated for all Egyptian State transactions of selling, buying, contracting, mortgage, and renting.

Those forms have been approved by the Cabinet and the State Council, he noted.

This step will help us resolve multiple disputes and litigation reports, Maait said, noting in this regard that the State will preserve the rights of the parties concerned and prevent any forgery.

More From: Egypt Online

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