MoF holds Govt Financial Policy Coordination Council’s meeting

Younis Haji Al Khoori, Under-Secretary of MoF and Chairman of the Government Financial Policy Coordination Council, chaired the meeting alongside Saeed Rashid Al Yateem, Assistant Under-Secretary of Resources and Budget Sector and the Vice-President of the Council.

Khalid Ali Al Bustani, Director-General of the Federal Tax Authority (FTA) attended the meeting, alongside council members from several UAE government entities.

During the meeting, Al Khoori stressed on the Council’s pivotal role in enhancing the efficiency and effectiveness of government financial work, by devising proactive solutions and initiatives to future challenges, and ensuring the integrity of the country's financial system.

Al Khoori said, "We thank all Council members for their commitment to working as one committed team that devises sound financial policies and enhances spending and investment efficiency in line with the government priorities, to support the comprehensive economic development."

The Council members were briefed on the implementation of the previous meeting’s recommendations. The annual financial statements of the UAE, the FTA’s presentation, and the latest developments in implementing a Guide on Simplified Common Costs were presented. Also, the Central Bank of the UAE delivered a presentation on the monetary and banking developments in the country.

The Government Financial Policy Coordination Council was formed by Resolution No. 39 of 2008 of the Cabinet. Its members consist of the Under-Secretary of the Ministry of Finance, a representative of the Central Bank of the UAE, and representatives from local UAE governments.