Finance Ministry mandates government asset sales via Etimad e-auction

Logo of Ministry of Finance

The Ministry of Finance began on Jan. 4, requiring all government entities to offer and sell movable government assets through the Etimad e-auction service, which is part of the Etimad platform, to improve transparency and efficiency in government asset management.

In a statement, the ministry said the measure forms part of its ongoing digital transformation of government financial services. The Etimad Auction service enables government entities to manage the entire sales process electronically, starting with asset registration and pricing, followed by auction announcements and bid submissions, and ending with award decisions and the issuance of electronic invoices.

The ministry said mandatory use of the platform promotes equal access for individuals and the private sector, allowing all participants to view and take part in government auctions in a clear and efficient manner. The move is also expected to strengthen fair competition and ensure the optimal utilization of public assets.

Etimad Auction is a core service within the Etimad platform and is designed to streamline procedures for selling government movable assets and improve disposal efficiency, in line with Saudi Vision 2030 objectives to enhance public financial management and increase transparency in government transactions.

Government entities can conduct asset offerings through their accounts on the Etimad platform, while individuals and private-sector participants can access and participate in the auctions.