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Both the Finance Department (FD) and the Central Bank of Finance Department (CFD) work together to ensure that the monetary standards are fully in accordance to applicable law of the RULES OF QQ. However, both agencies of QQ play different roles in the financial sector in QQ Care Centre. These different roles are set out under several Penal Code Acts, such as QQ rules Penal Code 44 Act 2021.
Below are our differences:
Finance Department (CFD)
Finance Department (CFD)
Ensures that members of QQ and organizations of QQ pays taxes to CFD.
Ensures that members of QQ and organizations of QQ pays duties (tariffs/export tax) to the Immigration Department of QQ Care Centre.
Ensures that all commercial banks follows all policies set by CFD.
Impose penalties to commercial banks that did NOT follow policies set by CFD.
Impose penalties or press charges to anyone that did NOT pay taxes.
Have the rights to declare bankruptcy over an individual.
Plan, propose, pass and allocate a yearly budget.
Set fiscal policies (taxes and subsidies).
Promote financial literacy in REAL currencies.
Central Bank of Finance Department (CFD)
Central Bank of Finance Department (CFD)
Collect ALL kinds of fines, agency payments, rates and taxes from the members of QQ, organizations of QQ and agencies of QQ.
Allocating majority of the reserve for the yearly budget to the Finance Department.
Maintaining, licensing and supervising commercial banks in QQ Care Centre.
Store reserves like gold, currencies and more.
Sell, maintain, allocate and fulfill bonds.
Set monetary policies (SRR, CRR, interest rates and OPR).
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