MARAWI CITY, Lanao del Sur (PIA) — The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has formed a partnership with the Land Bank of the Philippines (LBP) to improve financial management and accountability through a new agreement between the Ministry of Finance, Budget, and Management (MFBM) and LBP.
The two entities signed a memorandum of agreement (MOA) on Feb. 24 to enhance the Bangsamoro Treasury System on Disbursement, a system in place since 2024.
MFBM Minister Ubaida Pacasem noted that the system has already supported the reversion of unutilized funds across BARMM ministries, offices, and agencies, offering insights into cash flow management.
“Since its launch in 2024, this system has helped revert unutilized funds, giving us valuable data on cash flow and strengthening our interest in establishing a Treasury Single Account (TSA) for the region,” Pacasem said.
Pacasem emphasized that the initiative aims to consolidate BARMM’s cash accounts, enhance fiscal discipline, streamline financial operations, and optimize government resources.
Following the MOA signing, MFBM and LBP reaffirmed their commitment to strengthening their partnership for the financial development and stability of the Bangsamoro region. (BIO/PIA-10/Lanao del Sur)
