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Treasury Single Account (TSA)

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An overview of the project

Treasury Single Account (TSA) is A unified structure of government bank accounts, where all government account balances are accumulated to show the movement of net revenues and expenses.

Objectives

  • Developing a central methodology for managing bank accounts and cash balances
  • Managing cash through cash flow estimates and financing needs
  • Improving the quality and accuracy of financial reports
  • Optimizing Government funds and reducing public debt.

TSA Project Phases

Roll out TSA to target government units

1

Assess and monitor the pilot phase

2

Launching pilot phase

3

Design TSA structure and re-engineer business processes

4

Prepare project plan

5

Benchmark international practices

6

Perform current state assessment

7

FAQ

No, Treasury Single Account (TSA) is a unified structure of government bank accounts, where all government account balances are accumulated to show the movement of net revenues and expenses. This would lead to the optimal use of government cash resources.

  • Increasing the efficiency of public finance management
  • Enhancing the ability to identify financing needs and reducing the cost of borrowing

Based on the Financial Law and Executive Bylaws, all Government entities are obliged to obtain prior written approval from MOF before opening a new bank account

  • No, the TSA will be applied to all units of the State’s administrative apparatus, taking into consideration the tasks of every entity.

The Government bank accounts are those accounts opened by various government entities, in local or foreign banks inside or outside Oman, to manage their allocations as per the State general budget or any financial resources. However, once TSA is put in place, any Government bank account shall be opened under the name of MOF

Publications

الدليل التعريفي لمشروع حساب الخزينة الموحد الدليل التعريفي لمشروع حساب الخزينة الموحد

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