Etimad platform processed SAR 165 bln worth of payment orders: official

Saudi finance ministry’s Etimad platform has processed 274,000 payment orders worth SAR 164.6 billion in 2018, Al-Eqtisadiah reported, citing Ahmed Al-Suwaiyan, the ministry’s undersecretary for technology and development.

Etimad serves five segments, including contractors and suppliers, government agencies, the ministry of finance, supervisory authorities and decision making researchers, he said during ICT Indicators Forum 2019, which was held in Riyadh on Wednesday.

“We are not satisfied today with the documentary cycle procedures. We will develop the procedures and try to reduce the preparation of revisions and approvals, whether by a government agency or the finance ministry,” he said.

The finance ministry will soon provide the private sector with notification services for each region or sector, so that the private sector can compete and bid on government procurement, and better followup on contracts and payments, he added.

Through etimad Platform, the ministry offered five main packages in 2018 and plans to add a new package for government agencies that would allow them to completely manage billing and revenue collection, he added.