Banking and Asset Management (BAM) is another division which is responsible to strengthening and manage assets owned by government.

Core functions

The core functions of this division are:

• Daily monitoring of Government accounts and funding of MDAs,
• Reconciling all Government accounts,
• Accounting for all Government revenues,
• Ensuring that there is compliance with standards for asset management.

BAM basically is comprised of Banking, Revenue, Reconciliation, Asset Management and Foreign payments sections. The following are the functionalities of these sections in brief:

1. Foreign payments– Foreign payment has three main activities which include transferring of foreign payments, processing of advances and transfer of funds from deposit account.
2. Banking – Banking section is responsible for ORT and salaries funding to all MDAs, opening of bank accounts, paying of bank commissions, preparing bank transfers and closing dormant accounts.

• Reconciliation – This section does reconciliation of all government accounts and prepares final accounts.

1. Revenue – Revenue section has a sole responsibility of enhancing revenue accountability and reporting
2. Asset management – This section has a responsibility of enhancing transparency and compliance with asset management.