by Rocky Sat 13 Jan 2024, 8:21 am
Finance Minister Taif Sami confirmed on Friday that the unified treasury account represents a quantum leap in the management of public money.A stateme... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Finance Minister Taif Sami confirmed on Friday that the unified treasury account represents a quantum leap in the management of public money.
A statement by the ministry received by (Al-News) said: “The Minister of Finance, Taif Sami, chaired today at the ministry's headquarters, a coordination meeting that included the Director General of the Accounting Department and the general managers of the rational, banks, Mesopotarian, industrial, real estate and agricultural, and the concerned employees to discuss the requirements of the implementation of the unified treasury system.”
During the meeting, the minister stressed, according to the statement, “the need to prepare a minute and sign it by the Council of Ministers to take the necessary measures to implement the decision and the implicit paragraphs on it without waiting for the first paragraph of recommendations No. 23453, which includes all banks represented by centrally funded spending units to provide the position of zero self-accounts, provided that it is signed by the Unified Treasury Account Committee.”
Sami pointed out that "the Council of Ministers was notified of the accounts with adherence to the implementation of the recommendations received under the letter of the Council of Ministers without few obstacles and the commitment of the Accounting Department and the concerned banks to withdraw the balances after (10) days of each month."
She added, “A timetable will be prepared to call and know about the lagging circles about the implementation and the need to re-check the amounts spent again with the statements, direct the Rafidain and Rashid bankers the need to adhere to paragraph first of the recommendations, and prepare an inventory of all accounts that includes the name of the formation and the amounts and deposit according to the type of account.”
The statement continued, “On the other hand, setting a timeline with the subcommittees formed, mentions the number of accounts of each bank, mentioning the amounts and they are withdrawn in the main account and preparing a table of all self-accounts for more than 5 years in all banks, then they are submitted to the six minister to recommend it and deposit it in the main account. For less than 3 years, it is necessary to prepare a full statement of accounts to be deposited in the main account.”
The statement concluded that “this comes within a series of meetings held to reform the public finance sector through the application of the unified treasury account, which represents a quantum leap in the management of public money, as the project will allow the possibility of monitoring the movement and safety of funds and the application of the ministerial curriculum prepared by the ministry in order to keep pace with financial and economic progress.”
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This looks like Taif Sami has been truly very busy this last year to have every thing done to the extent they call it a quantum leap in the management of public money, while at the same time Ernst & Young have been busy with restructuring banks to merge into the private sector and with the help of the Central Bank. No coincidence in timing here! imo ~ MM | | | |
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