The importance of the application of information systems in the implementation of financial and monetary policies ✍️ Professor: Fikri Kabbashi, Al-Amin Al-Arabi
Information systems are implemented in accordance with tax policy. They are designed in perfect harmony with financial policies to achieve their objectives. For example, but not limited to, they support the policy of the Ministry of Finance and Economic Planning's mandate regarding public money. , because thanks to information systems, the ministry has the capacity to prepare the state budget then supervise its execution and access the movement of public funds, from collection operations to the disbursement phase or expenditure, at any time and in any place, and the ministry thus has the possibility of strengthening control over public funds. Information systems also facilitate the implementation of economic planning policy by providing financial information with high accuracy and when required.
It is clear that it is necessary to implement financial policies so that the Ministry of Finance is aware of the total revenues, and in application of the principle of transparency in the collection of public revenues and the control of expenditure and expenditure of funds public, the ministry has designed a number of integrated information systems to achieve these objectives. These systems are: Electronic Payment (Sadad E. Payment) and Electronic Collection Project (E15), Treasury Single Account System (TSA), Government Resource Planning (GRP) System and Government IT. payroll (HR). & Payroll).
Currently, no entity can conduct government financial transactions except through the aforementioned information systems, and therefore the results of these systems accurately display information relating to total revenues and total expenditures at all levels of government.
Information systems support the monitoring of financial policies through the different types of reports they provide. Through these reports, the Ministry of Finance is able to know what policies have been achieved and what have not, in the form of financial data and information. thus helps in making the appropriate financial decision and the actual performance reports for the current year, which are supported by the systems, are used to develop budget plans for the following year, in the so-called the shadow budget, and they contain. indicators and guidelines for progress in budget execution. The computerized system also provides an automated plan for the next year's budget which is approved or amended, and the automated plan for the next year is developed by the system based on the implementation and execution of the indicators. budget for the current year, and since most of the work of the information center is primarily technical in nature, the work within the information center has been divided into groups according to their specialization. There are engineering groups, where each group oversees a specific department to follow. monitor the progress of the work, carry out maintenance operations and provide technical support. There are also groups of programmers, where each group is responsible for a specific system and monitors its progress on workstations or on the server. Above all, strict security. measures have been put in place to protect data on all devices, from servers to workstations where users work (workstations), which requires approval when requesting information of a special nature.
The same goes for the Monterey Policy issued by the Bank of Sudan, which absolutely requires advanced information systems, based on which decisions are made and their implementation is monitored. Therefore, I insist and emphasize that the Bank of Sudan must have complete independence in matters of policy. monitor the implementation of these monetary policies, which are aimed at the public interest, because I firmly believe that successive governments will not benefit from them. The circumstances are in absolute full economic maturity, and my argument for this is that the submission of. central bank in government, especially those based on partisanship, and therefore central bank policy will be subject to partisan goals, which may harm the general economic interest. In addition, the submission of the central bank to the government gives it advantages. an obedient tool when it should The Bank of Sudan demands that its decisions are effective and that it strictly applies all sanctions provided for in its regulations in case of exceeding the closely established controls for the implementation of financial and monetary policies without direct or indirect interference from other executive authorities. Otherwise, there will be an exception, except in cases of extreme necessity that require it, which must be decided by legislative or parliamentary bodies or similar supervisory bodies during the transition period.
Therefore, these developments must be accompanied by more practical measures on the part of the Bank of Sudan through its work in preparing the legal, regulatory and procedural environment in three main axes related to legislation and laws necessary to regulate the e-commerce, payment card legislation, ATM system, settlements and clearing, as well as the provision and preparation of the appropriate environment within the scheme.
Teacher: Fikri Kabbashi Al-Amin Al-Arabi
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