Oromia Finance Bureau Mandates Internet Banking for Payments
Oromia regional finance bureau has announced that all govt payments in the Oromia region of Ethiopia will be made through internet banking. The bureau announced the decision this week.
Oromia regional finance bureau has announced that it held consultations about this issue with Commercial Bank of Ethiopia and other stake holders. The bureau stated that the new payment system should be followed in order to keep up with modern technology and to achieve the “digital Ethiopia” plan that the government has to achieve by 2030.
Many of the Oromia region’s government payments are made through Siinqee Bank which was originally Oromia Credit and Saving Share Company (OCSSCO). OCSSCO was one of the largest microfinance institutions in Ethiopia, which has transitioned and upgraded into Siinqe Bank.
The regional Finance Bureau clarified that this transition applies to offices currently using the Commercial Bank of Ethiopia and does not phase out Siinqee Bank. Rumors suggesting the regional government is dropping Siinqee Bank are false. The bureau confirmed its continued support and collaboration with Siinqee Bank.
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