Connecting Interbank Payments System to Revenue and Customs Systems of the Ministry of Finance

Mpoya
Tue, Dec 22 2020 6:22 PM
Connecting Interbank Payments System to Revenue and Customs Systems of the Ministry of Finance

December 22, 2020 – Following the provision of necessary payment facilities and reforms, DAB has taken action to connect interbank payments system to the revenue and customs systems of the Ministry of Finance, the practical work of which commenced today.

With this facility, government revenues are collected and executed electronically without processing physical documents, and meanwhile the mentioned messages and transactions are sent electronically to the systems of the Ministry of Finance for assurance. This approach will be effective on the first day of Financial Year 1400 onwards, which shall be implemented in Kabul, and gradually expand to other provinces.

DAB is committed to providing standard services to the government, financial sector and the citizens, and therefore has always tried to provide banking services with the best internationally recognized standards in the country. By implementing the modernization project of its payment systems, DAB has successfully provided the opportunity of access to payment system through its two separate systems, both small payments which are performed using modern payment instruments including withdrawals and transactions of cash through ATMs, POS, and mobile phones; and Interbank large payment system (ATS). 

Connecting the interbank payment systems to the revenue and customs systems has more advantages, only few of which are mentioned below:

  • Facilitate the payment of product fees and customs tax and establish considerable transparency in its payment;
  • Accelerate the process of goods release from customs;
  • Accelerate the revenue collection process without geographical restrictions;
  • Facilitate provision of better banking services to payers and government tariffs
  • Reduce physical money circulation and cash erosion in Afghanistan, and reduce operating expenditure
  • Significant role in promoting the culture of non-cash economy
  • Reduce risks of transferring physical money
  • Pave the grounds for growth of commercial banks;
  • Further development of banking culture among people and their familiarity with the products and benefits of banking services

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