KUWAIT CITY, Oct 26: Minister of Electricity, Water and Renewable Energy, Minister of Finance, and Acting Minister of State for Economic Affairs and Investment Dr. Subaih Al-Mukhaizeem on Sunday highlighted the significance of the government e-payment services project, Tasdeed, calling it a cornerstone in Kuwait’s transition to a digital government.

Speaking at the 15th-anniversary celebration of Tasdeed, Al-Mukhaizeem said the project was launched with a forward-looking vision to enhance government service efficiency and modernize electronic payment and collection mechanisms in line with global technological developments.

He underscored Tasdeed’s role in supporting transparency, accelerating transactions, and simplifying procedures for citizens, residents, companies, and other beneficiaries, aligning with the goals of the “New Kuwait 2035” vision.

“Over 15 years of dedicated work, Tasdeed has achieved tangible results, establishing a unified e-payment platform for the Ministry of Finance linked to 53 government entities,” Al-Mukhaizeem said. “It provides multiple payment channels, including regular and integrated point-of-sale devices, as well as internet and mobile platforms.”

The minister noted that since the project’s inception, nearly 221 million government transactions have been completed through Tasdeed, with non-oil revenues totaling 11 billion Kuwaiti dinars (approximately 3.35 billion US dollars) collected via the unified platform. He also highlighted the complete transition from traditional paper stamps to electronic stamps across all government entities.

Al-Mukhaizeem praised the Ministry of Finance’s efforts, which were recognized last May when Kuwait won the Sharjah Award for Public Finance, third cycle (2024-2025), in the distinguished institutional category for providing exemplary financial services in the Arab world.

He credited the success to the support of Kuwait’s leadership, inter-agency cooperation, and the dedicated work of Ministry staff, emphasizing the strategic partnership with the Shared Electronic Banking Services Company (KNET). This collaboration, he said, provides a robust technical infrastructure ensuring high standards of security and reliability in government payment and collection operations.

KNET Chairman Mohammed Al-Othman, speaking at the same event, described Tasdeed as a milestone in Kuwait’s digital transformation, noting that the project’s partnership with the Ministry of Finance has enabled millions of citizens and residents to access fast and secure electronic payment services.

Al-Othman stressed that KNET remains committed to supporting Kuwait’s digital excellence agenda, ensuring efficiency, security, and continuous innovation, while leveraging all its capabilities to assist government agencies in the country’s ongoing digital transformation process.

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Minister of Finance Dr. Subaih Al-Mukhaizeem delivering the opening speech