Dubai: The Ministry of Finance (MoF), in collaboration with the World Bank Group (WBG), held a roundtable discussion on the project to strengthen the financial coordination of the health and education sectors at the ministry headquarter in Dubai. Representatives from various financial departments in the UAE, as well as the UAE Central Bank, were part of the discussion.

The discussion on the project was opened by ministry officials, followed by a presentation by the WBG’s team which is chaired by Naoko Kojo. Furthermore, Fernando Blanco, WBG economist, gave a presentation on the financial coordination processes in the UAE along with recommendations on developing them, as well as providing context in the sector  vis a vis the UAE and other countries. As part of the session the participants had an opportunity to have their questions answered by experts and specialists from WBG.

HE Saeed Rashid Al Yateem, Assistant Undersecretary of the Resources and Budget Sector, stressed the importance of financial coordination for the health and education sectors and their contribution to promoting economic diversification. HE said: "Effective financial coordination contributes to sound financial balance. This enables financial stability and enhances the effectiveness of government programs' spending and drives economic diversification in the UAE.”

HE added: “MoF is collaborating with the WBG on the project of strengthen financial coordination. This session is aimed at sharing expertise and identifying the best knowledge transfer when it comes to international best practice in this field. It also provides government entities with the opportunity to meet with experts and specialists in the field and discuss relevant issues at local and federal levels.”

MoF is working with the WBG to implement the Financial Coordination Project for the health and education sectors in the UAE and the current coordination methodology for these sectors has been studied and contrasted with countries that are leaders in these areas. A guide on implementing these policies, along with the development of a database, a unified financial model and development of a training manual for the country’s technical team is on the cards.

-Ends-

For more information, please contact:

Mary Khamasmieh

Weber Shandwick

Mobile No.: +971502731753 

e-mail: MKhamasmieh@webershandwick.com

Mira Assaf

Weber Shandwick

Mobile No.: 971503123518+

e-mail: MAssaf@webershandwick.com

Evita Karam

Weber Shandwick

Mobile No.: +971504120310

e-mail: EKaram@webershandwick.com

© Press Release 2018

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.