The State’s Financial and Administrative Audit Institution has initiated steps to improve financial transparency in government bodies.
According to decisions taken by Shaikh Nasser Bin Hilal Al Maawali, Chairman of the State’s Financial and Administrative Audit Institution, government officials will have to file annual disclosure forms that would include all financial transactions with government units and establishments in which the government owns more than 40 per cent of capital.
The government officials will have to file a personal Financial Disclosure Statement, which should cover a full account of all movable and real estate owned by the declarant, the spouses and children and the sources of funds from movables or properties, whether such funds exist in the Sultanate or abroad. This information will be kept confidential and cannot be disclosed unless permitted by the chairman of audit institution and as required by the public interest.
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