Saturday 14 / February / 2026
Muscat: The Ministry of Finance has launched the second pilot phase of the "Unified Treasury Account" project, which targets the Ministry of Health, the Ministry of Education and the Royal Oman Police (ROP) on Thursday, September 7, 2023.
The project aims to create a central methodology for managing bank accounts and cash liquidity, improving the quality and accuracy of financial reports, in addition to optimal utilization of government funds.
The second stage represents measuring the results of the project and the ease of its application to different government institutions and larger numbers of bank accounts. The Ministry of Finance will work to expand by applying the unified treasury account structure to the rest of the government agencies.
The Ministry began implementing the project in its first pilot phase in June 2022 on the Tax Authority and the Ministry of Labour, and the implementation of the first pilot phase was completed by 100 percent on the Tax Authority, and by 95 percent on the Ministry of Labour.
It is noteworthy that the unified treasury account is a unified structure for all government bank accounts that ensures the optimal use of government cash resources, through which bank account balances are collected to show the net movement of revenues and expenses.
It is hoped that the project will contribute to the process of managing cash liquidity and exploiting government funds in a way that contributes to improving the return on cash balances and thus reducing the resort to borrowing. Which works to improve the credit rating index of the Sultanate of Oman.
