Kementerian Kewangan (MOF) | |
Ministry overview | |
---|---|
Formed | 31 August 1957 |
Jurisdiction | Government of Malaysia |
Headquarters | Ministry of Finance Complex, No. 5, Persiaran Perdana, Precinct 2, Federal Government Administrative Centre, 62592 Putrajaya |
Employees | 30,735 (2022) |
Annual budget | MYR 45,990,876,000 (2022) |
Ministers responsible |
|
Deputy Minister responsible |
|
Ministry executives |
|
Website | www.mof.gov.my |
Footnotes | |
Ministry of Finance on Facebook |
The Ministry of Finance (Malay : Kementerian Kewangan), 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. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The Minister of Finance administers his functions through the Ministry of Finance and a range of other government agencies.
Its headquarters is in Ministry of Finance Complex, Putrajaya.
The Minister of Finance is the minister in charge of government revenue and expenditure. The Minister oversees economic policy: fiscal policy is within the Minister's direct responsibility, while monetary policy is implemented by the politically independent Central Bank of Malaysia, the head of which is appointed by the Yang di-Pertuan Agong. The Minister of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Malaysian federal budget to the Parliament.
The Minister of Finance is a very senior government post; historically, many Ministers of Finance have previously, concurrently or subsequently served as Prime Minister or Deputy Prime Minister. Service as Minister of Finance is seen as an important (though certainly not essential) qualification for serving as Prime Minister: to date, five Ministers of Finance have gone on to be Prime Minister.
The Ministry of Finance is responsible for administration of several key Acts:
The Federal Constitution allows Parliament to make laws related to finance that include:
The Malaysian Investment Development Authority, abbreviated MIDA, previously known as Malaysian Industrial Development Authority is the government's principal agency to oversee and drive investment into the manufacturing and services sectors in Malaysia. Starting operations in 1967, MIDA was given the mandate to promote investments in the manufacturing and services sectors; and to advise the Ministry of International Trade and Industry (MITI) on industry matters including the formulation of related policies.
Bank Simpanan Nasional (BSN) is a government owned bank based in Malaysia. BSN offers banking services via BSN branches and BSN Banking Agents. BSN was incorporated on 1 December 1974 under the Minister of Finance at that time, Tengku Razaleigh Hamzah.
Lembaga Tabung Haji (Jawi: تابوڠ حاج ; Arabic صندوق الحج) also known as Tabung Haji or TH is the Malaysian hajj pilgrims fund board. It was formerly known as Lembaga Urusan dan Tabung Haji (LUTH). The main headquarters is located at Tabung Haji Tower, Jalan Tun Razak, Kuala Lumpur. Tabung Haji facilitates savings for the pilgrimage to Mecca through investment in Shariah-compliant vehicles. Through its subsidiaries, the company also engaged in other industries such as finance, hospitality, property, plantation and information technology.
The Ministry of Women, Family and Community Development, abbreviated KPWKM, is a ministry of the Government of Malaysia responsible for social welfare: children, women, family, community, older people, destitute, homeless, disaster victim, disabled. The ministry determines the policies and direction to achieve the goals of gender equality, family development and a caring society in line with Malaysia's commitment towards the United Nations' Convention on the Elimination of All Forms of Discrimination Against Women and the Beijing Declaration.
The Ministry of Home Affairs, abbreviated KDN, MOHA, is a ministry of the Government of Malaysia that is responsible for home affairs: law enforcement, public security, public order, population registry, immigration, foreign workers, management of societies, anti-drug, publication / printing / distribution of printed materials, film control, management of volunteer, rehabilitation and implementation of punishment.
The Ministry of Defence, abbreviated MINDEF or KEMENTAH, is a ministry of the Government of Malaysia that is responsible for defence, national security, army, navy, hydrography, air force, armed forces, intelligence services, counterintelligence, military intelligence, national service, and veterans affairs.
The Prime Minister's Department is a federal government ministry in Malaysia. Its objective is "determining the services of all divisions are implemented according to policy, legislation / regulations and current guidelines". It is headed by the Prime Minister of Malaysia followed by other Minister in the Prime Minister's Department. The Department consists of the Prime Minister's Office, the Deputy Prime Minister's Office and more than 50 other government agencies and entities. The Prime Minister's Department was established on July 1957. Its headquarters are in Perdana Putra, Putrajaya.
The Ministry of Transport, abbreviated MOT, is a ministry of the Government of Malaysia that is responsible for transport: road transport, civil aviation, marine, road safety, port authority, railway assets, maritime, air accident investigation, logistic, maritime safety, shipping, rail transport, airport, airline.
The Ministry of Communications and Digital is a ministry of the Government of Malaysia that is responsible for digitalisation, communications, multimedia, radio broadcasting, digital terrestrial television broadcasting, other media broadcasts, information, personal data protection, special affairs, media industry, film industry, domain name, postal, courier, mobile service, fixed service, broadband, digital signature, universal service, international broadcasting, and content.
The Ministry of Natural Resources, Environment and Climate Change, is a ministry of the Government of Malaysia that is responsible for energy, natural resources, environment, climate change, land, mines, minerals, geoscience, biodiversity, wildlife, national parks, forestry, surveying, mapping and geospatial data.
The Ministry of Finance, abbreviated MOF, is a ministry of the Government of Somalia that is charged with the responsibility for government expenditure and revenue raising. The ministry's role is to develop economic policy and prepare the federal budget. The Ministry of Finance also oversees financial legislation and regulation. Each year in October, the Minister of Finance presents the Somali federal budget to the Parliament.
Johari bin Abdul Ghani or more commonly known as Dato' Jo is a Malaysian politician and chartered accountant who has served as Minister of Plantation Industries and Commodities in the Pakatan Harapan (PH) administration under Prime Minister Anwar Ibrahim since December 2023, Chairman of the Task Force on the 1Malaysia Development Berhad scandal since March 2023 and the Member of Parliament (MP) for Titiwangsa from May 2013 to May 2018 and again since November 2022. He served as the Minister of Finance II in the Barisan Nasional (BN) administration under former Prime Minister Najib Razak from June 2016 to the collapse of the BN administration in May 2018, Deputy Minister of Finance in the BN administration under former Prime Minister and Minister Najib and former Minister II Ahmad Husni Hanadzlah from July 2015 to his promotion to Minister II in June 2016 as well as Chairman of the UDA Holdings Berhad from July 2013 to his resignation in July 2015. He is a member of the United Malays National Organisation (UMNO), a component party of the BN coalition. He has served as the Treasurer General of BN since April 2023 and Vice President of UMNO since March 2023. He is also presently the only BN MP in Klang Valley.
In Malaysia, federal budgets are presented annually by the Government of Malaysia to identify proposed government revenues and spending and forecast economic conditions for the upcoming year, and its fiscal policy for the forward years. The federal budget includes the government's estimates of revenue and spending and may outline new policy initiatives. Federal budgets are usually released in October, before the start of the fiscal year. All of the Malaysian states also present budgets. Since state finances are dependent on money from the federal government, these budgets are usually released after the federal one.
The Ministry of Agriculture and Food Security, abbreviated MAFS, is a ministry of the Government of Malaysia that is responsible for agriculture, agro-based industry, agritourism, livestock, veterinary services, fisheries, quarantine, inspection, agricultural research, agricultural development, agricultural marketing, pineapple industry, agribusiness, botanical garden, food security, food sovereignty.
Amanah Raya Berhad is a Malaysian trustee company, wholly owned by the Government of Malaysia.
The Department of Federal Territories(Malay: Jabatan Wilayah Persekutuan), abbreviated JWP, was a ministry and now a department under the Prime Minister's Department of the Government of Malaysia that is in charge of overseeing the administration and development of all three Federal Territories in Malaysia: Kuala Lumpur, Labuan and Putrajaya.