Abu Dhabi: Following the federal government’s strategy to enhance cooperation with various ministries and federal and local authorities in the UAE, the Ministry of Finance (MoF) has signed a memorandum of understanding (MoU) with the Central Finance Department of Sharjah, in an effort to strengthen the relationship between the two parties.
The agreement was signed by Younis Haji Al Khouri, Undersecretary of MoF, and Waleed Ebrahim Al Sayegh, Director General of the Central Finance Department of Sharjah, in the presence of Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF, Abeer Ali Abdooli, Director of the Financial Policies Coordination Department, along with a number of employees from the Ministry and the Department.
The agreement stipulates the two parties’ commitment to exchange knowledge about successful experiences and best practices in the financial field, which include the development of applied financial legislation and regulations, the preparation and implementation of budgets, the preparation of final financial accounts and statements, various financial applications and enhancing technical cooperation as well as organising workshops to raise the level of employee performance in the finance sector.
Commenting on this agreement, Al Khouri said: “MoF and the Central Finance Department of Sharjah have worked closely together for many years. This agreement has re-affirmed a strong relationship between the Ministry and the Department within a practical and systematic framework, and will allow for the achievement of the greatest possible results aspired by the two parties.”
“Achieving sustainable development is a big priority for the Ministry. As such, MoF is working to build strategic partnerships with various federal and local entities in the UAE, which in turn allows the Ministry to play a key role in the development of the government’s financial framework, in accordance with international best practices,” he added.
The agreement calls for both MoF and the Central Finance Department of Sharjah to promote their strategic partnership and develop their work environment by exchanging information and relevant data, as well as to organise joint events and activities.