In a bid to strengthen its relations with regional and global entities, the UAE Ministry of Finance, MoF, on Tuesday received a delegation from the Ministry of Finance of the Kingdom of Saudi Arabia, KSA, at its premises in Dubai.

The two parties aimed to exchange experiences in government finance practices at the meeting.

Younis Haji Al Khoori, Under-Secretary of MoF, received the KSA delegation, alongside Saeed Rashid Al Yateem, Assistant Under-Secretary of the Resources and Budget Sector, and Mariam Mohammad Al Amiri, Assistant Under-Secretary for the Management of Financial Resources.

Al Khoori emphasised the ministry’s commitment to strengthening the UAE’s network of relations with various countries across the globe. "The Ministry of Finance continuously seeks to co-operate with various regional and international institutions to share knowledge and experiences. The UAE and KSA enjoy a robust and historic social, economic and trade relationship based on a common history and a shared vision for the future," he added.

The ministry examined its successful experiences across different departments. During the meeting, participants reviewed procedures of issuing and publishing financial statements as per best standards, preparing the general federal budget, the e-Dirham system’s main services, and adopted plans in revenue diversification as well as methods to forecast government revenue.

Participants also reviewed the ministry’s plans to coordinate government financial policies, government finance statistics, Emirates Gate of GFS reports system, and the financial projects.

The two parties discussed the UAE’s methodology in terms of financial performance and systems, cash flow management, consolidated financial procedures manual, and the procedures manual for partnership between federal entities and the private sector.

The KSA delegation was headed by Yaser Alquhidan, Deputy Minister of Budget and Organisational Affairs, and included Tariq Bin Abdullah AlSohib, Deputy Minister for Revenues; Abdullah Al Ghamlas, Assistant Under-Secretary of Revenue Affairs; Hazal Al Fayzi, Assistant Under-Secretary for Financial and Accounts Affairs; Ali Al Hamdaa’, Assistant Under-Secretary of Budget and Organisational Affairs; Abdullah Al Arifi, Assistant Under-Secretary of Budget and Organisational Affairs; Saleh Al Shaalan, Head of the General Administration of Accounts and Abdullah Al Askar, Head of General Administration of Revenues. Among the participants from the UAE MoF were Azza Al Suwaidi, Revenue Development Director, and Ali Sharafi, Director of the Federal Public Budget, along with a number of heads of departments.