E-payment, collection services hit LE 2.5trn in 11 months: Finance min.

The value of services provided through the electronic payment and collection system has reached LE 2.5 trillion in the first 11 months during this year, compared to LE 2.1 trillion in the same period last year, said Finance Minister Mohamed Maait.

The total value of salary payments reached LE 299.4 billion compared to LE 242.2 billion in the same period of last year, he added.

The minister also noted an increase in the value of electronic payment service for suppliers by 14 percent to reach LE 1.1 trillion compared to LE 989.8 billion in the same period of the previous year.

In a press release on Sunday, the minister said that the financial inclusion is considered one of the main pillars for growth and the transition to the digital economy.

The State has exerted strenuous efforts in the past decade in the digital payments sphere, he further said.

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