Ministry of Finance

The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Malaysia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the Malaysian federal budget.

Functions:

• To formulate and implement fiscal and monetary policies in order to ensure effective and efficient distribution and management of financial resources.
• To formulate financial management and accounting processes, procedures and standards to be implemented by all Government.
• To manage the acquisition and disbursement of federal Government loans from domestic and external sources.
• To monitor that Minister of Finance Incorporated companies are managed effectively.
• To Monitor the financial management of Ministries, Government Departments and statutory Bodies.
• To formulate and administer policies related to be the management of Government procurement.
• To formulate policies and administer Government housing loans for public sector employees.