MOFIC Profile

Background

MOFIC is the Monetary, Finance and Currency System implemented for the Brunei Currency and Monetary Board (BCMB). The system is developed with the Oracle PeopleSoft Financials to manage their General Ledger and financial reporting requirements.

Key Capabilities

The functionalities implemented include:

  • Journal Vouchers
  • Chart fields of Accounts (COA)
  • Profit and Loss Statement
  • Balance Sheet
  • Bank Reconciliation
  • Budget Tracking/ monitoring
  • Batch Processing and Reporting

Benefits

The solution enhance financial management and promote capacity building of their core functions to create a strong and dynamic financial system. BAG Networks continues to maintain and operate the backend system support for the BCMB

The capabilities realized include:

  • Improved daily operations work efficiency as the preparation of financial and accounting reports completed through automated process
  • Increased confidence of data accuracy as data is captured and verified at the source
  • Up-to-date accounting and financial reports
  • Real time data availability to support decision making and planning process
  • Online access to enquires and reports

 


BAG Networks Sdn. Bhd.
In-Residence Level 6, Empire Arcade, Jerudong BG3122, Negara Brunei Darussalam
http://www.bagnetworks.com.bn
Work: +673 2382238
Fax: +673 2382248
In-Residence Level 6, Empire Arcade, Jerudong BG3122, Negara Brunei Darussalam