The Ministry of Finance announced the renewal of the contract to provide government electronic payment services with The Shared Electronic Banking Services Company (KNET), for 3 years.

The contract renewal was signed by the Undersecretary of the Ministry of Finance, Aseel Al-Munifi, representing the Ministry, and the CEO of the KNET, Essam Al-Khashnam, representing the company.

The purpose of signing this contract is to offer advanced, diverse services for payment and the issuance of electronic stamps in collaboration with government agencies. This initiative will enable citizens, residents, and companies to conveniently and securely pay for and obtain electronic stamps from anywhere and at any time, streamlining their interactions with governmental transactions.

This initiative is part of the Ministry of Finance’s ongoing efforts to enhance electronic payment services and deliver exceptional services to government agencies and citizens.

In her remarks following the contract signing, Al-Muneifi stated:
“The significance of this contract lies in streamlining the electronic payment process for all state services. It will offer a variety of advanced payment channels, including ATMs, credit cards, and the Estamp application, catering to the needs of government agencies. Furthermore, we will implement the latest technology in financial collection operations while ensuring all necessary security measures for safe and efficient transactions. Additionally, we are upgrading the fee payment service in Kuwait’s foreign offices by providing modern devices, particularly for the Ministry of Foreign Affairs.”

Al-Muneifi further highlighted that the Ministry of Finance has generated over 1.3 billion dinars from these services this year alone, with total proceeds exceeding 3 billion dinars over the past three years, owing to the high quality and ease of the services provided.