To monitor state funds.. Sami is discussing with the International Monetary Fund the application of the single treasury account
To monitor state funds.. Sami is discussing with the International Monetary Fund the application of the single treasury account
2023-05-07 07:11
Shafaq News/ The Iraqi Minister of Finance, Taif Sami, discussed with IMF experts, on Monday, the possibility and steps to design and implement the Treasury Unified Account System (TSA).
This came during Taif Sami’s presidency of the consultative meeting with the experts of the International Monetary Fund (MITAC) through visual communication channels, according to a statement received by Shafaq News agency.
According to the statement, the meeting was attended by the Director General of the Accounting Department and the ministerial team concerned with the project, in addition to the participation of the general managers of the Rafidain and Real Estate Banks and the Iraqi Trade Bank, and representatives of the Al-Rasheed, Industrial, Agricultural and Al-Nahrain Islamic Banks.
The meeting discussed the approved outputs during the previous period, and reviewed the next stages of implementing the TSA project, according to the specified timelines and the allocated costs.
The meeting also discussed the extent to which the system responds to the rest of the sub-systems such as preparing the general federal budget, procurement and payments systems, fixed assets, the salary system, the revenue system, cash management and others.
Sami said, according to the statement, that “the ministry is keen to expand the use of technological solutions to ensure the sustainable modernization of financial systems, according to the latest international standards and expertise, in line with efforts to face challenges and facilitate financing procedures in record times.”
She explained that “the application of the account will allow the possibility of monitoring the movement of funds to spending units and identifying the remainder in the departments’ accounts and restoring it for the benefit of the state treasury, as well as diagnosing the units that are still outside the salary settlement system.”
And the Minister of Finance pointed out that “the project will provide an accurate database that contributes to accounting processes, diagnosing errors and addressing them in real time,” stressing the endeavor to “agree with the support team at the World Bank on the participation of Iraqi cadres in expanded rehabilitation programs under the supervision of the bank, with the aim of enhancing the expertise and skills of working cadres.” account, and ensure the success of its management with professionalism and high efficiency.
shafaq.com
