Muscat: The Ministry of Finance today issued Financial Circular No 6/2022 to regulate the assigning of powers to persons tasked with expending public funds in government units.

The step has been taken from the vantage point that an expenditure bond is a financial and legal deed that reserves the financial rights of the government and individuals.

The Ministry of Finance urged all ministries and (civil) government units to provide it with updated cards of those authorized to expend public funds. It stressed that the signatures of authorized persons have to be renewed at the start of every fiscal year.

The ministry also underscored the need to report any incidents involving signatories authorized to expend public funds. The circular urges all to provide the ministry with stark clear prints of expenditure bonds.

Source: Oman Observer