Ministry of Finance of the United Arab Emirates

09/14/2021 | Press release | Distributed by Public on 09/15/2021 04:02

Government Financial Policy Coordination Council holds its third meeting for 2021

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The Ministry of Finance (MoF) recently held the third meeting of the Government Financial Policy Coordination Council virtually. His Excellency Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council chaired the meeting alongside His Excellency Saeed Rashid Al Yateem, the Assistant Undersecretary of Resources and Budget Sector and the Vice-President of the Council.

Attendees during the meeting were Council members from several UAE government entities such as: His Excellency Mohamed Khaleefa Alnuaimi, Director General of Executive and Financial Affairs at DoF - Abu Dhabi; His Excellency Arif Abdulrahman Ahli, Executive Director, Planning and General Budget Sector at DoF - Dubai; His Excellency Waleed Ibrahim Al Sayegh, Director General of the Sharjah Finance Department; His Excellency Marwan Ahmed Al Ali, Director General of Ajman's Department of Finance; His Excellency Yousef Muhammad Al Balushi, Director General of Ras Al Khaimah Finance Department; His Excellency Khalifa Saeed Ghanim, Director General of DoF - Umm Al Quwain and Her Excellency Mariam Abdullah Al Matroushi, Deputy Director of DoF - Fujairah.

The Council members reviewed the minutes of the previous meeting, and a presentation was made on the annual financial statements of the UAE for the year of 2020. The meeting also discussed the developments of the Article IV mission of the International Monetary Fund (IMF) to the UAE, updates on meetings of the work team of the Common VAT Agreement of the States of the Gulf Cooperation Council, and the Simplified Common Costs initiative. Also, the Central Bank of the UAE delivered a presentation on the monetary and banking developments in the country.

The Government Financial Policy Coordination Council was formed by Resolution No. 39 of 2008 of the Cabinet. Its members consist of the Undersecretary of the Ministry of Finance, a representative of the Central Bank of the UAE, and representatives from local UAE governments. ​