Ministry's Strategic Plan
 
One of the first ministries that responded to the vision and strategy of the Government of the United Arab Emirates, through actual practice reflected in the development of a strategic plan.  Ambitious at the same time, applied each potential plan to cover all the tasks carried out by the services provided by.

When I started at the Ministry of Finance, the preparation of its strategic plan needed to be kept in line with the regional and international changes and the steady increase of the needs and expectations and aspirations of the various categories of clients.

We at the Ministry of Finance understanding the regional situation around us and it places us within the burdens and responsibilities towards modernity and development.  We have been able to synthesize from such modernization with conservative and committed leadership and excellence.
The ministry also did not forget the importance and centrality of the role of clients of different types for future growth.  Their goals and priorities have interacted with ours so their role was crucial to determine the direction of the plan and layout of the goals and priorities.

I have been preparing and developing the strategic plan, the joint efforts of leaders and managers and ministry officials at various organizational levels and depending on the following key steps:

1. Visionary leadership and strategic directions of the State of United Arab Emirates.
2. Strategic Plan for the State of United Arab Emirates.
3. Extensive analysis of external environmental factors that affect the performance of the ministry.
4. Results of analysis of questionnaires and influential groups of customers affected by the performance of the ministry.
5. Diagnostic capabilities and core competencies in the ministry.
6. Analysis of resources and strategic potential available to the Ministry.
7. Best practices in the management of financial resources.
8. Strengths and weaknesses of the Interior, and the opportunities and external risks.

We are confident that the staff of the Ministry of Finance who have contributed positively in the formulation of ambitious initiatives of its strategic plan, it will be positive elements and pillars of the work to develop these initiatives into practice with the highest possible degree of efficiency, creativity and professionalism, the same items that will be the benchmarks for progress on the ladder of career development.

“Together for Excellence ... We ask Allah to help us all to the benefit of this nation.”

Tasks and competencies

Under the guidance of HH Sheikh Hamdan bin Rashid Al Maktoum, Minister of Finance, and HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, the Ministry of Finance (MoF) in the United Arab Emirates is responsible for the implementation of all fiscal, monetary and industrial policies related to UAE’s economic development.

MoF Tasks and competencies include:

• Securing the preparation and the follow up of issuing the federal budget through programs’ budget and performance measurement system, in cooperation with ministries and federal authorities.
• Following up the implementation of the federal budget after approving it and making its needed modifications.
• Preparing the recommendations needed to maintain the balance of the budget, as well as proposing executive procedures needed to deal with the decrease in revenues collected comparing to what is expected. MoF also prepare executive procedures for dealing with the increase with expenditures comparing to what is approved in the budget.
• Preparing UAE’s financial policy, financial analysis and economic predictions.
• Studying and analyzing financial and performance reports on time and referring them to Council of Ministers.
• Collecting and auditing federal government’s revenues.
• Developing and diversifying federal government’s revenues, as well as updating its fees.
• Identifying mechanisms of collecting federal government’s revenues and developing its facilities.
• Preparing the federal final account and drafting its accreditation law.
• Drafting the law of approving the final accounts of the independent federal authorities.
• Updating the consolidated accounts’ structure.
• Establishing rules for disbursement procedures and determining the organizing authorities and responsibilities.
• Managing the cash flow of the federal government.
• Managing and developing the consolidated financial procedures manual for the federal government.
• Organizing the federal accounting rules and issuing the necessary instructions, as well as monitoring their implementation and setting rules and procedures for papers, documents and records.
• Studying and proposing ways and means to rationalize the expenditure of the ministries and federal authorities.
• Regulating the federal procurements affairs and its means of development and supervision.
• Organizing legislative policies and procedures related to federal properties, in addition to protecting, preserving and monitoring them.
• Organizing and developing housing affairs of federal ministries and government offices’ staff, in addition to securing their supervision and follow up.
• Supervising and following up UAE’s contribution to funds and development institutions.
• Coordinating, cooperating and participating in donor countries’ meetings.
• Participating in joint economic committees between the UAE and various countries of the world.
• Signing agreements of double taxation avoidance on income, as well as agreements of investment promotion and protection with other countries.
• Securing coordination and cooperation between the UAE and regional and international institutions in the fiscal, monetary and economic domains.
• Following up the implementation of 2002 provisions of GCC Unified Economic Agreement.
• Activating and updating the organizing laws and regulations related to MoF strategy, competencies, activities that have financial implications and obligations.
• Coordinating and cooperating with Central Bank of the United Arab Emirates in developing fiscal and monetary policies aiming to secure UAE’s economic development.
• Developing a financial control system for ministries and federal authorities which is based on decentralization, accountability and responsibility to maintain public money.
• Coordinating with competent authorities, as well as regulating and supervising the issuance of bonds and instruments; aiming at developing investment awareness and maintaining financial and economic stability.
• Establishing a financial risk management unit and developing its associated controls.
• Developing a structure for the internal audit offices at the ministries in accordance with global practices and controls.
• Other competencies entrusted to MoF by virtue of another law.