Min­istry of Fi­nance launches of­fi­cial credit card

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The Min­istry of Fi­nance launched the of­fi­cial credit card for bud­getary bod­ies as one of the ini­tia­tives un­der­taken by the Min­istry to dig­i­tal­ize the pay­ment sys­tems. The ob­jec­tive of the of­fi­cial credit card is to make the gov­ern­ment pay­ments out­side the coun­try more con­ve­nient and ef­fi­cient. Fur­ther, it is also aimed at sup­port­ing the gov­ern­ment’s ini­tia­tive of mov­ing to­wards cash­less economy. As per the press re­lease from the Min­istry of Fi­nance the gov­ern­ment pay­ment out­side the coun­try us­ing the of­fi­cial credit card is ex­pected to re­duce the pro­cess­ing time and ad­min­is­tra­tive costs as the trans­ac­tions would be on real-time. This will re­duce the risk of car­ry­ing cash ad­vances by of­fi­cials on travel abroad and also it will fa­cil­i­tate in avail­ing prompt ser­vices through the on­line pay­ment sys­tem. In the ini­tial phase, the use of of­fi­cial credit card will be pi­loted in four se­lected bud­getary bod­ies of Na­tional Coun­cil, Min­istry of For­eign Af­fairs, Royal Civil Ser­vice Com­mis­sion and Min­istry of Fi­nance. Based on the ex­pe­ri­ence dur­ing the pi­lot phase, the Min­istry of Fi­nance will grad­u­ally im­ple­ment the use of of­fi­cial credit card in other bud­getary bod­ies. Fi­nance Min­is­ter Ly­onpo Nam­gay Dorji launched the of­fi­cial credit card last Fri­day at the Tashich­hod­zong in col­lab­o­ra­tion with Bank of Bhutan Lim­ited.

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