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His Excellency Obaid Humaid Al Tayer

Minister of State for Financial Affairs


“The Ministry of Finance operates with a distinct vision to further establish the United Arab Emirates on the global stage as an economic leader. Our investment is in innovative solutions targeted at making our customers happy, and at contributing to the UAE’s own vision of achieving sustainable development based upon knowledge, creativity and inspiration. We aim to manage the UAE’s fiscal matters with integrity, transparency and forward-looking insight to ensure our nation continues on the pathway towards prosperity that lays before us.”

HE Obaid Humaid Al Tayer is the Minister of State for Financial Affairs of the UAE, and has held senior positions at the Dubai Chamber of Commerce and Industry. Al Tayer was appointed in 2008 and is also Deputy Chairman of the General Pension and Social Security Authority. He formerly held positions such as Member of the Federal National Council, Chairman of Emirates Industrial Bank, Acting Chairman of Real Estate Bank, Chairman of Dubai Chamber of Commerce and Industry, Board Member of Dubai Municipal Council, Board Member of Dubai Economic Council, Board Member of Union National Bank and Board Member of Emirates Telecommunications Corporation.

The Minister of Finance is the supreme head of the ministry, who exercises functions and powers bestowed upon him by the Federal Law No 1 of 1972, its amendments and the resolutions issued by the UAE Cabinet. The minister may delegate some of his powers to the Under Secretary or to those the Minister deems appropriate in the ministry.

Responsibilities and Competencies for the Minister of State for Financial Affairs
  • Determining the general fiscal policies of the UAE in consultation with the UAE Cabinet.

  • General overseeing of the preparation of the Federation's general budget draft and final balance.

  • Representing the ministry to public and private authorities inside and outside the country.

  • Developing basic fiscal policies of the Federation in coordination with federal agencies.

  • Determining the general policies and strategic direction of the ministry.

  • Overseeing the development and adoption of the ministry’s Strategic Plan and the operational programs and following up their implementation.

  • General overseeing of the ministry’s workflow, adopting governing decisions, and following-up on reports of achievement.

  • General overseeing of the preparation of the general budget draft and final balance of the ministry, and following up its implementation within the set appropriations.

  • Proposing draft laws, decrees and regulations related to the ministry work in coordination with the concerned parties.

  • Any other competencies conferred on to the minister under laws, decrees, or decisions issued by the UAE Cabinet.

Organisational units reporting to the Minister of State for Financial Affairs
  • Minister's Office.

  • Minister's Consultants.

  • Internal Auditing Office.

  • Institutional Development Department.

  • Government Communication Department.

  • Under Secretary.


Page last updated : 01/03/2018 7:51 AM