Rabat hosts third Sharjah Award for Public Finance session

The event was held on November 14 and 15, organized by the Sharjah Finance Department (SFD) in cooperation with the Arab Administrative Development Organisation (ARADO), affiliated with the League of Arab States, and in partnership with Morocco’s Ministry of Economy and Finance.

A Distinguished Opening Ceremony 
The opening ceremony was attended by Sonia Hamamouch, Director of the Institute of Finance and Deputy Director of Administrative and General Affairs at the Ministry of Economy and Finance of Morocco; His Excellency Dr. Nasser Al-Hatlan Al-Qahtani, Director General of ARADO and Vice Chairman of the Award's Board of Trustees; His Excellency Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Finance Department and Secretary General of the Award; His Excellency Dr. Azzam Irmili, Advisor to ARADO and member of the Award's Board of Trustees; Ibrahim Al-Houti, CEO of the Executive Office of Sharjah Asset Management; Hassan Basha, Award Advisor; and Nasser Kashwani, financial expert at the SFD, along with a group of experts and representatives from public finance and quality management sectors.

Promoting Financial Sustainability 
In her opening remarks, Sonia Hamamouch expressed her admiration for the objectives of the Sharjah Award for Public Finance and its crucial role in promoting sustainability and leadership in the governmental financial sector across the Arab world. She emphasised the Award’s contribution to improving performance and fostering financial innovation in governmental entities. She conveyed greetings from Abdessalam Benabou, Director of Administrative and General Affairs at the Ministry, to the event's participants and organizers.

Successful Efforts in Arab Administrative Development 
Hamamouch also commended ARADO and the SFD for their efforts in advancing administrative development in Arab countries, particularly in finance. She highlighted Morocco's pride in hosting the Award's sessions for the second time and mentioned the Ministry's win in the "Outstanding Public Finance Entity" category in 2023, recognising the Ministry's strategic leadership achievements in various financial and legislative areas. She concluded by inviting all participating sectors to showcase Morocco's excellence in public finance through the Award and training workshops.

Establishing a Sustainable Arab Economy 
His Excellency Sheikh Rashid bin Saqr Al Qasimi, Secretary General of the Award, emphasized that the Sharjah Award for Public Finance is the first of its kind in the Arab world. He noted that the Award aligns with the vision of Sharjah’s leadership, led by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to institutionalize practices of excellence, efficiency, and governance in financial operations, both locally and regionally. The ultimate aim is to establish a sustainable, diversified, and knowledge-based economy capable of attracting investments and driving innovation.

Fostering a Culture of Excellence in Financial Practices 
Sheikh Rashid Al Qasimi explained that since its inception in 2016, the Award has successfully promoted a culture of excellence in governmental financial practices among institutions and individuals, encouraging adherence to high standards of financial performance. He added that the new edition has introduced six additional categories, totaling 22: 11 institutional and 11 individual categories. He elaborated on the new categories, which include "Outstanding Entity in Cash and Sovereign Fund Management" and "Outstanding Entity in Financial Research," among others.

Expanding Participation Across the Arab World 
His Excellency Dr. Nasser Al-Qahtani highlighted the Award’s success in attracting high-quality institutional and individual submissions from various Arab countries. He emphasized the continuous development of the Award's categories and criteria and praised the effective implementation of introductory sessions and training programs. Al-Qahtani noted that previous sessions had been held in Tunisia and Jordan before arriving in Morocco.

He extended his gratitude to the Moroccan government and the Ministry of Economy and Finance for their support, which has ensured high levels of governmental participation and facilitated the hosting of the event.

Introducing the Award and Participation Criteria 
Dr. Azzam Irmili led two sessions: the first outlined the Award’s vision, objectives, target groups, and evaluation criteria, while the second focused on participation requirements and the online submission process.

Public Procurement and Its Role in Development 
The accompanying training workshop, led by Ms. Leila Zouhir, Head of Public Procurement Organization at the Moroccan Treasury, was divided into two segments. The first discussed public procurement's impact on economic, social, and environmental development, emphasizing procurement's role in fostering competition, innovation, and national economic growth.

Reforming Public Procurement in Morocco 
The second segment addressed recent reforms in Morocco’s public procurement system, emphasizing transparency, good governance, and accountability. The reforms aim to improve the efficiency of public resource use, linking expenditures to tangible outcomes.