Arahan Perbendaharaan - Hingga 15/10/2025
Publisher,International Law Book Services (ILBS)
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Format, Paperback
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"Arahan Perbendaharaan" is a Malay term that translates to "Treasury Instruction" in English. The Treasury Instruction referred to here is the Treasury Instruction No. 1 of 2021 which was effective from 1st February 2021. The Treasury Instruction is a set of guidelines issued by the Ministry of Finance in Malaysia that outlines the procedures and rules governing the management of public finances.
The Treasury Instruction No. 1 of 2021 contains several key provisions that aim to improve the financial management of public funds in Malaysia. Some of the provisions include:
The use of e-wallets and online payment platforms for the payment of government fees and services. This is in line with the government's effort to promote digitalization and reduce the use of cash transactions.
The implementation of a centralized procurement system for government agencies. This is to ensure transparency and accountability in the procurement process and to prevent abuse of power.
The establishment of a Treasury Single Account (TSA) for the management of government funds. The TSA will consolidate all government funds into a single account to enable better cash management and monitoring of government spending.
The requirement for all government agencies to adhere to the principles of the Malaysia Government Accounting Standards (MGAS) and the Financial Procedure Act 1957 (Revised 1972). This is to ensure consistency and standardization in the management of government finances.
The implementation of a risk management framework for government agencies. This is to identify and manage potential risks that could affect the financial management of government funds.
Overall, the Treasury Instruction No. 1 of 2021 is an important step towards improving the financial management of public funds in Malaysia. By implementing these provisions, the government aims to enhance transparency and accountability in the management of public finances, and to ensure that government funds are used effectively and efficiently for the benefit of the people.
