The Ministry of Finance announced today that it is requiring all government agencies to list and sell government movable assets through the "Ittimad" e-auction service at of the Etimad platform, as part of the Ministry’s efforts to enhance transparency and improve the efficiency of government asset management.
This measure comes within the framework of the digital transformation led by the Ministry in government financial services, as the Etimad Auction service enables government agencies to conduct listing and sales processes entirely electronically—from entering asset data and pricing, through advertising and receiving bids, to awarding contracts and issuing invoices electronically.
The Ministry emphasized that the requirement to list assets on the platform contributes to the principle of equal opportunity between individuals and the private sector, and enables everyone to view and participate in government auctions with ease and transparency, thereby promoting fair competition and ensuring the optimal utilization of public assets.
The “Itham Auction” is one of the main services on the Itham platform, aimed at streamlining the procedures for selling government movable assets and increasing the efficiency of their disposal, in line with the objectives of the Kingdom’s Vision 2030 to develop public financial management and enhance transparency in government transactions.
Government agencies can conduct auctions through their accounts on the Etimad platform, while individuals and the private sector can view and participate in the auctions.