ABU DHABI, 29th April, 2018 (WAM) — As part of its efforts to strengthen cooperation with various regional and global institutions, the Ministry of Finance, MoF, received a delegation from the Arab Bank for Economic Development in Africa, BADEA, in its offices in Dubai.
The visit aimed to review experiences in managing government financial operations, budget preparation strategies and follow-up methods.
Younis Haji Al Khoori, Under-Secretary of MoF, along with a number of officials, received the delegation from BADEA, which was headed by Musabah Al Suwaidi, Member of the Board of Directors of BADEA and Chairman of the Audit Committee, and included Dr. Sidi Ould Tah, Director-General of BADEA, as well as a number of officials from the bank.
Al Khoori welcomed the visiting delegation, highlighting the ministry’s efforts to build strong cooperation with various regional and international organisations. “These visits serve as an interactive platform to exchange experiences and successful practices in government finance operations and affirm the UAE’s continuous support towards BADEA and other joint Arab action institutions,” he said.
The MoF delegation reviewed the mechanisms used for developing financial strategies that are in line with UAE Vision 2021. They also delivered a presentation on the different steps involved in preparing the federal budget, implementing financial systems and methods of ensuring efficiency in government spending. In addition, participants were introduced to the components of the information security system, the Ministry’s Data Centre, the internal audit system, as well as the institutional excellence and quality systems.
The ministry’s delegation also pointed out that it has achieved a qualitative leap in the performance of its systems through adopting an innovative business model across its departments. The information security system plays a pivotal role in improving the effectiveness in performance, quality standards and services offered to customers to contribute to the growth of the country.
BADEA’s headquarters is located in Khartoum, the capital of the Republic of Sudan, and is an independent international institution that aims to strengthen economic, financial and technical cooperation between Arab and African regions. It is the embodiment of Arab-African solidarity, built on the basis of equality, which strengthens the collaborative projects between the two regions on a solid and sustainable basis.