(EcoFinances) – State employees wishing to apply for credit from banking establishments (banks and MFIs) can now have their Irrevocable Transfer Certificates (ITC) issued online, according to an announcement made today (Wednesday 19 July 2023, editor’s note) by the Ministry of Finance (Minfi) on its various platforms on social networks.
« It is now possible for active civil servants and pensioners seeking credit from banks and microfinance institutions to obtain secure Irrevocable Transfer Attestations (ITC) from the Ministry of Finance », the announcement states, adding that this information was made public during the ceremony to launch the outsourcing of the application of irrevocable salary transfer attestations to banks and microfinance institutions, on Wednesday 19 July 2023 in Yaoundé.
The event was presided over (on behalf of the Minister of Finance) by the Director General of the Budget, Cyrill Alo’o Edou, in the presence of several personalities, including the Secretary General of the Professional Association of Credit Institutions of Cameroon (Appecam), the President of the National Association of Microfinance Institutions of Cameroon (Anemcam). As well as the representative of the Director General of the National Agency for Information and Communication Technologies (ANTIC) and the Directors General of banks and microfinance institutions.
Improving the quality of the public service
This good news comes at a time when most civil servants are preparing for their children’s return to school. Many of them will no doubt be reaching out to credit institutions as usual to help them fulfil their duties as parents. « The arrival of this innovation at Minfi can only be welcomed. It will save us a lot of paperwork and days of waiting. All you have to do now is open the Ministry of Finance website, enter your details and get the precious document in one click », says Germaine H, a teacher working in Douala.
The launch of the outsourcing of the application of irrevocable salary transfer certificates to banks and microfinance institutions is in line with the Ministry of Finance’s ongoing concern to improve the quality of public service by making the management of public expenditure by State employees more efficient. This, we learn, involves « checking the regularity and authenticity of documents with a financial impact, such as pay slips or salary ITCs ».
As a reminder, the manual production of ITCs used to be a source of trafficking at Minfi. « Civil servants could charge users up to FCFA 5,000 (or even more) to produce this document, which is required for access to bank loans », says a senior official at the Ministry of Finance, adding that this situation will absolutely change with the online issuing of ITCs. Another advantage of this innovation is the budget savings that the State will now be making, since falsified ITCs have until now been a source of misappropriation of public funds.