The establishment of The Ministry of Finance dates back to the creation of the first ministry under the Emirate of Transjordan on April, 11th, 1920. Several government departments were linked to the ministry, including: the Customs Department, the Income & Sales Tax Department, the General Budget Department, the Department of Land & Survey, the General Supplies Department.
The Ministry’s General Objectives
- Developing the state’s fiscal policy and supervising its implementation.
- Steering government investments into a direction that is consistent with the Kingdom’s fiscal policies.
- Managing the government’s domestic & external debt.
- Achieving integration between the fiscal policy and the monetary policy to serve the national economy, through cooperating and coordinating with the Central Bank of Jordan (CBJ) and other relevant institutions.
The Ministry’s Tasks
The Ministry undertakes the following tasks:
- Developing plans for the implementation of the state’s fiscal policy, in addition to following-up on meeting and collecting general revenue and transferring them to the Treasury. Furthermore, the ministry supervises the process of spending general revenues and regulates relevant accounts, in accordance with fiscal legislations.
- Managing cash inflow to ensure liquidity and steer government investment, in a manner that is coherent with fiscal and monetary policies.
- Examining and analyzing fiscal, monetary, and economic conditions, as well as evaluating policies and tax procedures.
- Managing the affairs of civil and military retirement and compensation according to rules and regulations, in addition to managing the capital of the Social Security Fund and the Savings Fund for Staff and Users.
- Studying cases that arise about (or around) the legal rights of the government or require litigation and follow-up in the courts of law.
- Preparing the financial draft legislation relating to public revenue and public expenditure and working on its development.
- Cooperating and coordinating with related specialized authorities in preparing and monitoring development, economic and social plans.
- Achieving integration between the fiscal policy and the monetary policy to serve the national economy, through cooperating and coordinating with the Central Bank of Jordan (CBJ).
- Presenting legal opinions and advice about the draft laws and regulations and agreements and any other topics that would resultant in financial obligations to the Treasury.
- Cooperating and coordinating with related Ministries and Departments to train and qualify their personnel on financial and accounting skills.
The Ministry’s Vision
To become a distinguished financial management at the regional level that contributes to enhancing financial and economic stability in the Kingdom and the well-being of citizens.
The Ministry’s Mission
Improving public finance management mechanisms and the quality of rendered services through modernization of financial legislations and implementation of international best practices building on the accumulated knowledge and highly qualified human resources.
The ministry bases the implementation of strategies on the following principles:
- Loyalty- A sense of responsibility and commitment to the ministry, as well as its staff and clients.
- Continuous Improvement- Development and training of human resources on regular basis.
- Transparency- Professionally disclosing, exchanging, and simplifying information.
- Robust Planning- Planning found on the basis of objectivity and within measurable targeted indicators.
- Excellence- Delivery of quality services that are in line with international standards.
- Team Spirit- Working and sharing on all levels to ensure meeting national objectives.
The Ministry of Finance is contributing effectively to the achievement of a number of national goals and priorities set by the national agenda and document all Jordan, and these goals are:
- The development of the national economy to be prosperous and open to regional and global markets.
- Strengthen government administration to be financially stable, transparent and accountable to the central and national levels.