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International Financial Relations and Organisations Department

 

The International Financial Relations and Organisations Department takes on the vital role of liaising internationally with the financial bodies of countries around the world.

 

This department has the following roles and responsibilities:

01

Negotiating with nations around the world on concluding agreements to avoid double taxation on income and agreements for promoting and protecting investment, exchanging tax information, and following up on the implementation with the relevant authorities after endorsement.

02

Participating in the joint economic commissions and providing suggestions and mechanisms to promote international financial relations, and following up on the implementation of related recommendations.

03

Following up on matters related to ministry’s competencies regarding anti-money laundering and counter-terrorism.

04

Gathering and exchanging information and data of natural and juridical persons licensed in the State, including free zones, adhering to the State's commitments regarding international tax agreements.

05

Participating in gathering information and organising data regarding donations and foreign aids granted by the State in coordination with the competent authorities.

06

Following up on the payment of financial obligations of the country to regional and international financial institutions, development funds, and corporations in which the country has shares and which operate under the supervision of the country.

07

Coordinating with regional and international development funds and financial institutions regarding international aid programs.

08

Examining development projects and programs launched by development funds, and regional and international financial institutions to benefit from them to serve the various sectors of the country.

09

Strengthening cooperation with countries, organisations, development funds, and regional and international financial institutions.

10

Following up on collecting return on investments for the State in development funds, and regional and international financial institutions in coordination with the General Revenue Department.

11

Coordinating with the authorities concerned to promote the State’s global financial competitiveness.

12

Preparing international Memoranda of Understanding with other countries to enhance the financial position of the country.

13

Preparing for the participation of the ministry in the meetings of regional and international development funds and financial institutions.

14

Any other tasks related to the competencies of the department, or entrusted to it by the Assistant Under Secretary.