On Sunday, Algerian Finance Minister, Laziz Faid, presided over a special conference to launch an ambitious project in the new city of Sidi Abdellah, positioning it as a model city for electronic payments.
“This initiative embodies a pioneering and exceptional model aimed at creating an electronic environment to facilitate infrastructural services and enhance financial security,” Faid announced during the conference marking the launch of the “Model City for E-Payment.” The choice of Sidi Abdellah for this groundbreaking project underscores the government’s strategy to spur economic opportunities in less developed regions. “We aim to set a tangible example, and our decision to start here in Sidi Abdellah is deliberate, given its modern, innovative nature,” the Minister explained.
Faid highlighted the recent transformations in the banking sector, noting, “The sector has reached a turning point, becoming more modern and flexible, thereby capable of managing crises. Our pragmatic approach acknowledges the challenges inherent in realizing this project.”
In a related context, Laziz Faid emphasized, “Today marks the beginning of an important phase for digitizing electronic payment, with the objective of boosting the national economy. We will strive to establish a robust legal framework to promote electronic payments in Algeria.”
The Minister assured that the e-payment city project would be extended to other Algerian cities and states, emphasizing the significance of electronic payment as a crucial means for digital transformation.
In a separate announcement, Finance Minister Laziz Faid declared the commencement of “Financial Literacy Week” across all national universities this Sunday.
The project underscores Algeria’s commitment to digital transformation and financial inclusivity, setting a precedent in the region’s economic landscape. This initiative is anticipated to not only revolutionize the financial sector but also set a new standard for modernization and digitalization, potentially attracting more foreign investment and boosting economic resilience.
Be sure to follow this transformative journey as Sidi Abdellah paves the way for a digitized economic future, reinforcing Algeria’s position in the global digital economy.
