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New Incentives to Drive Electronic Payment Growth in Algeria

New Incentives to Drive Electronic Payment Growth in Algeria
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✏️ BY: Dr. Hana Saada

Algiers, Algeria | September 13th, 2024 In a significant effort to modernize Algeria’s financial ecosystem, Minister of Finance Laaziz Fayed presided over a high-level coordination meeting on Thursday at the ministry’s headquarters, focusing on new incentive measures aimed at expanding electronic payment methods nationwide. The session, co-chaired by Minister of Post and Telecommunications Karim Bibi Triki and Governor of the Bank of Algeria Salah Eddine Taleb, centered on two critical areas: the proposal of incentive measures and the progress in implementing the institutional roadmap for the development of electronic payment systems.

During his opening remarks, Minister Fayed emphasized the urgency of swiftly addressing these objectives in alignment with national priorities outlined by President Abdelmadjid Tebboune. He stressed the need for intensified collaboration among stakeholders to achieve the ambitious goals set forth in this strategic framework.

A key element of the session was a presentation by the Director General of Taxes, who outlined proposed incentive measures aimed at encouraging the adoption of electronic payment systems. Following this, representatives from the Directorate General of Treasury and Accounting delivered a detailed briefing on the financial sector’s progress in executing the institutional roadmap for electronic payment expansion.

The discussions highlighted both the advancements made and the challenges that persist in ensuring the widespread adoption of electronic payment methods in the near future. According to the Ministry’s statement, the session provided a thorough assessment of these developments, with participants underscoring the importance of harmonizing the availability of electronic payment systems with their effective utilization. Achieving this balance, they noted, is essential for broad financial inclusion and ensuring that all citizens can access these modern and secure financial services.

In his concluding remarks, Minister Fayed called for the mobilization of all necessary resources to ensure the successful implementation of the institutional roadmap. He reaffirmed the government’s commitment to accelerating the execution of the outlined measures, recognizing the pivotal role electronic payment systems play in modernizing the financial system and driving economic development.

 

 

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