Abu Dhabi: The Ministry of Finance (MoF) recently received the Article IV mission of the International Monetary Fund (IMF) on the assessment of the economic and financial performance of member states. The meeting was held during the mission’s visit to UAE (26 April to 9 May, 2016), and aimed to review the Ministry’s achievements and financial policies that support the national economy.
Younis Haji Al Khoori, Undersecretary of MoF, met with IMF’s mission which was headed by Mr. Zeine Zeidane; in the presence of HE Khalid Ali Al Bustani, Assistant Undersecretary of International Financial Relations Sector at MoF; Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at MoF; Mariam Mohammad Al Amiri, Assistant Undersecretary for the Management of Financial Resources at MoF, in addition to a number of the Ministry’s employees.
“The Ministry of Finance is committed to open channels of communications with IMF experts and institutions under its umbrella. This is due to the importance of developing government financial work mechanisms and identifying best international practices, which in turn enhances the federal government’s financial policy and support the UAE’s overall economy,” said Al Khoori.
During the meeting, MoF reviewed its latest projects developments including: monetary and financial policies, e-Dirham system, and shift from cash basis to accrual basis system, budget cycle for 2017-2021, registration of assets, VAT, smart and electronic shift and other related projects managed by the Ministry.
The IMF’s mission on Article IV will hold a number of meetings with financial and economic entities in the country such as the UAE Central Bank to review financial policies and the entities’ achievements in supporting the local economy.
