Dubai: The Ministry of Finance (MoF) recently held the third meeting of the Government Financial Policy Coordination Council for 2019. The meeting was headed by H.E Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council.
The meeting was also attended by members of the UAE government council from the various financial departments including: H.E. Salah Mohamed Al Weswasi, Executive Director of Policy and Financial Systems Sector at DoF- Abu Dhabi; Arif Abdulrahman Ahli, Executive Director of Budget and Planning Division of DOF – Dubai; H.E. Waleed Al Sayegh, Director General of the Sharjah Finance Department; H.E. Marwan Ahmed Al Ali, Director General of the DOF – Ajman; H.E. Yousef Al Balushi, Director General of DOF – Ras Al Khaima ; H.E. Youssef Abdullah Al Awadi, Deputy Director of DoF – Fujairah.
H.E. Younis Haji Al Khoori stressed the pivotal role that the meetings of the Government Financial Policy Coordination Council play, and the contributions of its members ranging from all UAE government’s financial departments and relevant government entities in coordinating and developing financial policies that improve the financial systems and enhance the UAE’s competitiveness levels.
During the meeting, members discussed a set of major topics, foremost of which was the proposed amendment to the Special Data Dissemination Standard (SDDS) of the International Monetary Fund (IMF), which is one of the best international practices in publishing countries’ financial and economic data. The meeting also reviewed the UAE’s financial statements for 2018-2019, Financial Risks Record on the national level, Forming the Financial Objectives and Rules in the UAE project, as well as the UAE’s most important financial and monetary developments.
The Government Financial Policy Coordination Council was formed by Resolution No. 39 of 2008 of the Cabinet. Its members consist of the Undersecretary of the Ministry of Finance, representatives from local UAE governments, and a representative of the UAE Central Bank. Three periodical meetings are held annually, and the council is reconstituted every three years.
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© Press Release 2019