Minister of Finance: The application of the unified treasury account will allow monitoring the movement of funds
Minister of Finance: The application of the unified treasury account will allow monitoring the movement of funds
2023-05-08
Finance Minister Taif Sami confirmed Sunday, that the application of the unified treasury account will allow the possibility of monitoring the movement of funds.
The ministry said in a statement, “The Minister of Finance chaired the consultative meeting with the experts of the International Monetary Fund (MITAC) through visual communication channels regarding the requirements for designing and implementing the unified treasury account system, in the presence of 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 Al-Aqari banks.” And the Iraqi Trade Bank, and representatives of Al-Rasheed, Industrial, Agricultural and Al-Nahrain Islamic banks.
She added that “the meeting discussed the outputs approved during the previous period, and reviewed the next stages of implementing the TSA project according to the specified timelines and allocated costs, as well as examining the extent of the system’s response to the rest of the sub-systems such as preparing the general federal budget, procurement and payments systems, fixed assets, the payroll system, and the revenue and administration system.” cash, etc.”
Sami indicated, 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 the 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, in addition to that the project will provide an accurate database that contributes to accounting operations and error diagnosis.” and treat it immediately.
And she indicated that “seeking 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 World Bank, with the aim of enhancing the expertise and skills of cadres working on the account, and ensuring the success of its management with high professionalism and efficiency.”
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