Ministry of Finance will use electronic stamps from Dec ’16

DUBAI, Oct 17, (KUNA): Kuwait’s Ministry of Finance will stop dealing with traditional stamps and change to electronic ones starting next December, a step in line with the ministry’s goal to modernize all financial services and transactions, the Ministry’s Undersecretary Khalifa Hamada said Monday.

The Kuwaiti official’s statement to KUNA came during his participation at GITEX Technology Week currently held in Dubai. Hamada added that the new electronic system will be applied with best standards and will facilitate data extraction.

The ministry is carrying on some other projects, namely the state’s unified electronic payment systems which aims at gathering fines and other transactions in one location. Since its inception in 1981, GITEX has grown to be one of the most influential technology events in the world, giving visitors access to the latest products and services. The event will continue till October 19th.

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