FINANCE DIVISION
BRIEF INTRODUCTION

The Finance Division of the Medical Device Authority (MDA) comprises two (2) sections, namely;

i) The Finance & Accounts Section and,

ii) The Revenue Section.

The Finance Division is responsible for ensuring that all enforced financial procedures and regulations are fully complied with.

 

i) THE FINANCE & ACCOUNTS SECTION

  • Coordinates all matters related to payments to individuals or companies for supplies, works, and services rendered to the Medical Device Authority;

  • Coordinates all internal staff payments, including salaries, allowances, claims, and other related disbursements;

  • Ensures that all accounting records for each transaction are accurate and correct for monthly and annual account closing;

  • Prepares complete and well-organized MDA financial statements for presentation in Parliament;

  • Ensures that MDA practices prudent spending based on approved plans and allocations; and

  • Undertakes the most profitable investments based on the suitability of MDA’s cash flow.

 

ii) THE REVENUE SECTION

  • Receives and records all revenue collections from industry payments made under the provisions of the Medical Device Act 2012 (Act 737) and the Medical Device Authority Act 2012 (Act 738);

  • Ensures that all revenue collections are accurate and correctly recorded for monthly and annual account closing purposes;

  • Issue official receipts for every payment received from the industry;

  • Monitors revenue collection in detail in accordance with established reporting standards; and

  • Implements revenue collection processes through the Medical Device Integrated Financial Accounting System (MeDIFASt) and the Medical Device Centralised Online Application System (MeDC@St 2.0+).

 

Prepared by: Finance Division

Uploaded by: Corporate Communication Division

Date of upload: 13/11/2025