Part 7
Cash Assets Management

Article (110)

The Ministry of Finance / Treasury Division shall carry out the following:

1. To feed the Government's Departments' accounts, through the financial ceiling, with funds required for disbursing on its various projects and settling its cash commitments from the allocations stated in the budget's items.

2. 1- Controlling the cash flow of the general budget revenues and expenditures, in addition to the intermediary accounts (trusts and advances) on a daily basis and to submit the monthly accounting summary to the Directorate of General Accounts.
   
   2- Analyzing the actual cash flows and to submit the proposals and recommendations required therefor.

3. Bookkeeping the following records and carrying out the necessary entries to the account of the Treasury:

   1. General journal.

   2. General ledger.

   3. Subsidiary ledgers (for trusts and advances).

   4. Allocations (Payments) control book.

4. Following up the cash flow with the Treasury and observing the availability of sufficient liquidity to meet the disbursements to the Government's different commitments.

5. Bookkeeping the accounts of the special funds which are opened for specific purposes (fertilizers' accounts, purchasing of foreign debts and others).

6. Determining the monthly financial ceiling for the official departments (civil and military departments) according to the issued financial transfers and the cash status of the Treasury.

7. Preparing the monthly plan of the Treasury and controlling the projected cash flows as well as showing the results thereof.

8. Preparing the monthly financial position of the Public Treasury Account and dealing with the cash deficit through the balances of government's accounts at the Central Bank and/or any other financing sources.

9. Following up the cash, technical and in-kind grants and assistances to the Public Treasury Account from different parties.

10. Following up loans withdrawals and settlement of same, as well as collection of instalments and interests of the recovered loans without delay.

11. Preparing the bank's settlement memorandum upon the receipt of the bank's statement at the end of every month.

Article (111)

For the purposes of determining the monthly financial ceiling, the Departments shall provide the Ministry of Finance with the following:

1. The monthly financial position including expenditures thereof out of the allocations control register.

2. The duly certified monthly financial transfer in the first week of every month.

Article (112)

No Department may, under any circumstances, exceed the financial ceiling fixed thereto. Its financial controller shall, under the penalty of responsibility, supervise the implementation of same and shall coordinate with the Ministry of Finance / Treasury Division for the realization of same.

Article (113)

Every Department shall appoint a Liaison Officer thereto for reporting to and coordinating with the Ministry of Finance to provide it with the financial position and the financial transfer in addition to any other information and to receive its respective financial ceiling letter.


Article (114)

1. The Ministry of Finance shall assume the management of the Government debt according to the following procedures:

   1. It shall receive from the concerned party the loan's draft agreement which includes the financial, technical and legal conditions of the loan.

   2. It shall study the draft agreement and present same to the Minister of Finance and shall inform the concerned parties of the results of the study.

   3. It shall ascertain the completion of all the correspondence relating to the agreement as well as the approval of the Council of Ministers in anticipation of signing same by the authorized signatory.

   4. It shall record the financial particulars of the agreement in the loans register, as to: the name of the lending party, interest rate, conditions and method of repayment, name of project, commissions, if any, together with the scheduling of the loan principal and its interests till the settlement of the loan.

2. The borrowing party shall obtain the prior approval of the Ministry of Finance on each agreement pertaining thereto.

Article (115)

The Department shall provide the Ministry of Finance with the particulars of its agreements and loans in order to carry out the following:

1. To register the agreements' financial particulars in the loans register which includes the name of the lending party, the borrower, interest rate, conditions and method of repayment, project's name and commissions, withdrawn sums according to dates of withdrawals, scheduling of the loan principal and its interests till the end of the loan's life.

2. To retain all correspondence relating to the agreement in a special file.

Article (116)

Prior to the approval on guaranteeing any agreement, the Ministry of Finance shall carry out the following:

1. To study the financial position of the borrowing party.

2. To study the draft agreement intended to be guaranteed as to the financial and legal aspects.

3. To address the Council of Ministers to obtain its approval on the agreement's guarantee.

Article (117)

The Ministry of Finance and Ministry of Planning shall, each according to its competence, upon re-lending the loans, carry out the following procedures:

1. To study the agreement from the legal and financial aspects.

2. To register all the financial particulars in the re-lending register as to the amount of loan, repayment terms, name of project and its purpose, interest rate and scheduling of instalments and interests.

3. To open a special file for the agreement which shall include all the correspondence relating to the re-lending agreement and the approval decision taken by the Council of Ministers.

Article (118)

The Ministry of Finance shall manage the following agreements:

1. Debts re-scheduling agreements.

2. Debts reduction agreements.

3. Debts exchange agreements.

4. Debts re-purchasing agreements.

5. Any other agreements relating to reduction of the volume of indebtedness and the burdens thereof.

Article (119)

Every Department whose loan has been guaranteed by the Government should provide the Ministry of Finance with the following:

1. A copy of the concluded agreement.

2. Repayments movement on the agreement.

3. Withdrawals movement on the agreement.

4. Providing periodical statements on its financial position and closing accounts.