Ministry Achievements from 2008
To achieve the highest return on the resources of the Federal Government and the coordination of fiscal policies and raising the efficiency of the legislation and regulations governing the operations of financial accountability and transparency and the preservation practices of public money.
Where in this area:
- Issue the general budget balanced for 2009, with increase of 7.3 Trillion Dirham’s for the year 2008.
- Establish Coordinating Council of Ministry of Finance and local governments in the state under the Council of Ministers decision no. (75 / 3) for the year 2008 where the Council began its work in the coordination of fiscal policies between the Federal Government and local governments to achieve fiscal discipline and the use of fiscal policy as a way of balancing the economy.
- Establish Economic and Financial Analysis department (Macro Fiscal Unit).
- Coordinate with the CSC and issue Circular No. (16/2008) on the granting of ministerial powers and more flexibility in the implementation of budget and management and in line with the strategy of the Federal Government and the Ministry of Finance.
- Implementation of a plan for preparation of a medium-term budget plan for the years (2011 - 2013) and applying the zero-budget by Council of Ministers decision no. (181 /1) for the year 2008.
- Develop mechanisms for calculating the budgets for the federal universities and colleges.
- Contribute to provision, adequate housing for locals (as grant or housing loans) through:
a. Adoption of Four Billion Dirham’s to provide additional accommodation (grants) for a number of locals (8000) eight thousand beneficiaries.
b. Provision of housing loans for (32,000) thirty-two thousand beneficiaries at a total cost of 16 billion Dirham’s, the Government will bear all the expenses and benefits of the loan.
- Prepare rules for exemption fees of electricity and water consumption through issuance of the Ministerial Council for Services (No. 190/2) for the year 2008 under a memorandum of the Minister of Finance No. (29) Dated 1/9/2008.
- Review, development and printing of the unified financial procedures guidelines of the Federal Government. Also, organize comprehensive training sessions for all employees of the ministries and federal authorities working in this field to refine their experience and increase their competence in dealing with the financial system.
- Establishment of internal audit offices of federal ministries and begin the development of joint internal audit methodology in order to give more powers to the Ministries in the finance and in the financial control. Organization of programs and training courses that would raise the efficiency of workers in the field of financial auditing.
- Preparation of studies and jurisdictions research as the following:
a. Preliminary legal study on the integration of Tamweel and Amlak Finance under the framework of the "Emirates Bank for Development"
b. Effects on the industrial sector in the state as a result of its accession to the World Trade Organization (WTO).
c. Preliminary study on E-commerce.
d. Study the legal analysis on the New York Convention of 1958 for the recognition and implementation to the foreign arbitration.
e. Analytical study of the reports of the International Fund (IMF), in particular Article IV of the Convention, as well as the summary of the implementation of economic developments for the years 2006 to 2007.
Development and implement mechanisms to increase the revenues for the federal government, through:
- Modernization, renewing and development of service fees for Federal Government and (7) ministries of (11) decisions issued from Council of Ministers.
- Study to apply direct and indirect taxes in the state and to determine the economic and social impacts that would arise from applying the tax system in the state.
- Preparation of sovereign assessment of the state (Sovereign Rating) through preparation and invitation for the global commercial banks to be as financial adviser to the classification sovereign process in the state.
- Prepare the law of public debt.
Development of the delivery service and increasing on the reliance of information technology through the implementation of e-government services as following:
- Follow-up to the applying and implementation of e-dirham system in the federal, local, and private areas as well as to develop and launch the second generation of e-dirham system.
- Development of the Customer service system for suggestions and complaints for serving the internally and external customers of the ministry.
- Development of the financial system (Oracle) in order to manage and automate cash flow processes and start applying the application in the Federal Government.
- Modernization and development of operating systems in the ministry such as: the electronic archive system - receiver system - reservation rooms system - inquiry salaries and vacation – E-Jobs system and other electronic systems that are still under processing.
Monitor the implementation of global quality systems and excellence standards through:
- Obtain a certificate of ISO 9001.
- Prepare the Ministry for Sheikh Khalifa Excellence Government Program.
Strengthen state financial relations with Arab and foreign countries to support the promotion of investment and economic development in the areas as follow:
- Signature with the initialing on the seven agreements to avoid double taxation of income with each of the following (Switzerland, Greece, Kazakhstan, South Africa, Brunei, Uganda, and Republic of Germany)
- Review the agreements of avoiding double taxation on income, and the inclusion the recommendations on the natural resources within the recently concluded new agreements with both Kazakhstan and Republic of Germany, was also addressed by the Ministry of Foreign Affairs by His Excellency the Minister of State for Financial Affairs on the recommendations from the Department with the various relevant actors.
- Workshops and training courses in cooperation with regional and international organizations, where they were brainstorming workshops in Dubai in cooperation with the Islamic Development Bank Group in February 2008 and the second workshop on agreements for avoiding double taxation with cooperation with the Organization of Economic and Cooperation Development OECD during the month of November 2008.
- Several seminars were held on defining the Ministry role and the services that interest the private sector by holding two seminars for definition agreements of avoiding double taxation on income that’s entered into by the state with other first countries in the Chamber of Commerce and Industry in Abu Dhabi during the month of November 2008.