Iraq’s Treasury Single Account system to help combat corruption
The Iraqi Minister of Finance, Taif Sami, during her meeting with members of the TSA committee, directors of government banks, representatives of the Central Bank of Iraq, and the Federal Board of Supreme Audit. Photo: INA
Baghdad (IraqiNews.com) – The Iraqi Minister of Finance, Taif Sami, confirmed on Tuesday that the Treasury Single Account (TSA) system will contribute to fighting corruption.
Sami’s remarks took place during a meeting she chaired to review the progress made in the TSA system and the subsequent positive impact on the financial and banking systems, the state news agency (INA) reported.
The meeting was attended by members of the TSA committee, directors of government banks, representatives of the Central Bank of Iraq (CBI), and the Federal Board of Supreme Audit (FBSA).
The Finance Minister explained that the TSA system is part of the government’s efforts to accelerate financial and banking reforms and anti-corruption measures aimed at preserving public money.
The TSA system is a financial policy used in several countries all over the world.
The system was proposed by the federal government of Nigeria in 2012 to unify all inflows from all government agencies into a single account at the Central Bank of Nigeria.