The Financial Management Authority's payment services are available to Group A institutions. Organizations that wish to avail themselves of such services may .

The Financial Management Authority has around 300 institutions providing accounting and/or payment services.

Role of Financial Management

The main benefits for institutions using payment services:

• Strengthens internal controls of institutions, the role of bookkeepers and accountants

• Enhanced data security

• Simple processing of deviations

• Follow-up to payment terms

• Follow-up to the Fund Management Regulation

• Service activated a few days after contract signing

• Fewer bank accounts and their reconciliations

Role of institutions

The role of institutions in the provision of payment services shall be:

• approving accounts by deadline

• to remit special income to the Financial Management Authority

• Managing holding accounts

• handle supplier relations

Communication channels

Relations between the Financial Management Authority and the payment services institutions are conducted through