Ministry of Finance launches official credit card
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.