MoF organises the third Government Financial Policy Coordination Council meeting for 2015

The Ministry of Finance (MoF)recently organised the third Government Financial Policy Coordination Council meeting for 2015 in Dubai, in order to complete rounds of negotiations on the latest developments of government financial work on a local and federal level.

HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council headed the meeting; in the presence of HE Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF.

The meeting was attended by members of the Government Financial Policy Coordination Council from UAE governments, including HE Waleed Ibrahim Al Sayegh, Director General of the Central Finance Department of Sharjah; HE Marwan Al Ali, Director General of the Department of Finance in Ajman; HE Arif Abdul Rahman Ahli, Executive Director of Budget and Planning at the Department of Finance in Dubai; HE Youssef Abdullah Al Awadi, Deputy Director of DoF- Fujairah; HE Abdul Aziz Hareb Al Yousuf, Executive Director of General Budget Sector at the Department of Finance- Abu Dhabi, HE Mohammed Sultan Al Qadi, Managing Director of the Investment and Development office (IDO) Government of Ras Al Khaimah and Mohammed Saif Al Talay, Director General of the Financial Control Department  in Government of Umm Al Quwain.

Participants reviewed the UAE financial statements for 2014 and the first three quarters of 2015. The meeting also discussed the recommendations made during the workshop for the Government Government Financial Policy Coordination Council technical team, the latest developments on the technical support for the coordination of fiscal policies in collaboration with the World Bank, international standards for the exchange of information for tax purposes, in addition to a review of the latest updates on establishing a tax system and the most significant monetary and banking advancements  on a local level.

Commenting on the third meeting, HE Younis Haji AL Khoori said: “The Government Financial Policy Coordination Council continues to work with the highest levels of efficiency by coordinating with federal government and local government entities, specifically with regards to collecting government financial data and reports, overseeing the government financial policies as well as coordinating to meet requirements of the global competitiveness index and government efficiency.”

HE Al Khoori added: “The Government Financial Policy Coordination Council commits to direct communication with its various partners on a local and international level, in order to achieve its objectives, particularly in meeting the requirements of the global competitiveness index, in a way that reinforces the federal government’s direction towards achieving global leadership in financial management and sustainability in the management of financial resources.”