The UAE Ministry of Finance and Central Bank of The UAE has signed a pact with an aim to implement the federal government’s strategy in establishing joint work and strengthening strategic partnerships. The agreement aims to enhance cooperation in areas of joint work, including monetary statistics, and government financial and banking information. As part of this agreement, the central bank will provide the ministry with banking information collected from financial institutions and banks. It will also provide monetary and other related financial statistics through its research and statistics department. In return, the ministry will provide the UAE central bank with government finance statistics reports and other related financial data through the work of its coordination of fiscal policy department. MoF undersecretary HE Younis Haji Al Khoori said the finance ministry continuously works on strengthening its strategic partnership with different local and federal government entities to identify best practices and successful experiences in government financial work, public finances, as well as exchange information to maximise benefit of financial statements and develop mechanisms for fiscal policies in the UAE. UAE central bank deputy governor HE Mohammed Ali bin Zayed Al Falasi said the cooperation agreement comes as part of the central bank’s efforts to strengthen its partnerships with different local and federal governments.
