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 Terms of reference of ministry of finance

Propose the public financial  policy and financial plans that are supporting stability, economic growth and sustainability of government resources, the efficient use and follow up of their implementation, coordination and integration with the monetary and structural policies within framewok of development plans and its strategic objectives within the range of the general policy of the state 
The continues development of financial, tax and customs systems. The supervision of the implementation of these systems so as to enhance the safety of government financial system, its strength to achieve efficiency of performance, to provide competitive and stable financial environment.
To carry out the tasks of the State Treasury through the following actions:
a) Follow-up and collect the public revenue. Work for development, diversification and improvement of the means of collection. Follow up the implementation of financial policies and tax systems that are adopted in financial regulations. Direct supervision of all tasks of collecting zakat work of animals and tasks of the Al-Khars committees for  collecting grains and fruits.
b) Keep the current accounts of government with the Saudi Arabian Monetary Agency. Control the current accounts and matching  checks issued by this Ministry with those disbursed by Saudi Arabian Monetary and non-disbursed (reserved) with Saudi Arabian Monetary Agency, matching deposits made by government agencies for the current account of the Ministry of Finance of in the Saudi Arabian Monetary Agency.
c) Advance financial control of the expenditure, the development of  its systems and tools which contribute to the rationalization of government spending, enhance accountability and the preservation of public money. And supervision of the accounts. the annual expenses of the government and the preparation of the balance sheet of the state.
Providing loans to finance education, health and tourism projects; providing subsidies for goods of specific subsidy that are supported according to regulations and  resolutions.
Print and production of value-security documents to government agencies.
Preparation of  the  project of the state budget and its implementing rules. Coordination with the various government agencies, budget evaluation to ensure fair prices, consistent with the development plans and standards approved, follow up the implementation and continuous improvement of the mechanisms set up, management of public spending in order to contribute in raising of the efficiency and revenues. Propose policies for the management of budget surpluses.
Supervision of state property and protection. Propose ways to make use of them, acquisition of real estate expropriated for public projects and disbursement of its compensation.
Development of legislative and regulatory frameworks for bids, government procurement, and monitoring engagement.
Propose the  government borrowing policy and monitor its implementation, management of public debt and strengthen the financial reserves of the state. And follow up the collection of government loans.
Supervise the implementation  of the rules and procedures of government warehouses.
Implementation of government decisions on subsidies and domestic and foreign aid. Follow-up  the implementation in coordination with the relevant government agencies.
Follow-up financial, bilateral development, regional and international cooperation and development of this cooperation. And represent the Kingdom at the regional, international financial institutions, in the Group of Twenty, in the regional and international committees and councils, that are related to financial affairs.
Follow-up  the work of the joint government committees with other countries, in which the Ministry chaired the Saudi side as well as the participation in the work of the joint committees of the State with other countries, chaired by other ministries of Saudi Arabia.
Participation in the study of bilateral and international agreements relating to the  work of the Ministry.
Participation in the study, drafting, amending government regulations, in the preparation of financial and regulatory state studies.
Participating with other government agencies in the study of government policies and regulations with respect to  their dimensions and their financial implications.
Representing the state in the action cases raised in the courts against the public treasury, and in the action cases in the administrative courts against all the governmental bodies regarding financial claims.
Participation in the study and propose policies of import, export and customs exemptions with the relevant authorities.
To conduct research and financial studies..
Implementation of joint government services (government complexes in the regions of the Kingdom, Government Printing Press Agency and Nasiriyah Power Station) as well as the implementation of some large projects that are mandated by a Royal Decree, such as the Two Holy Mosques and the holy sites.
Cooperation and coordination with the Saudi Arabian Monetary Agency in order to achieve harmony between fiscal and monetary policies for the sake of serving the national economy.

Last Update : 7/18/2019 4:57 PM