MoF announces startup of “Emirates Gate of GFS reports and GCC Takamul system”

DUBAI: The Ministry of Finance (MoF) today announced the startup of the “Emirates Gate of GFS reports” at a press conference today followinig the opening of GITEX 2012 technology exhibition by H.H Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.

The conference highlighted the main characteristics of the Emirates Gate of GFS reports and GCC Takamul system, as well as highlighting the new services of e-Dirham – the second generation.

The conference was attended by Executive Director of Revenue and Budget Saeed Rashid Al Yateem, Assistant Undersecretary of International Financial Relations Sector at MoF Khalid Ali Al Bustani, Assistant Undersecretary for the Management of Financial Resources Mariam Al Amiri, Head of Direct Banking and E-Development at National Bank of Abu Dhabi (NBAD) Ahmed Al Naqbi and senior officials of the Ministry and the Bank.

Commenting on the conference, Al Yateem said: “MoF constantly aims to achieve its strategic goals through the coordination of fiscal policies and raising the efficiency of legislation and financial systems of accountability. It also aims to improve transparency processes and the conservation of public money. MoF achieves these goals through continuously searching for the best means and electronic systems in the government financial sector. The startup launch of the two new mechanisms reflects MoF’s continuous improvement in the e- financial services to support sustainable and balanced development for the UAE.” The conference highlighted the most prominent objectives of the Emirates Gate of GFS reports in coordinating fiscal discipline and fiscal policy between MoF and the local UAE government to build a consolidated financial database for all ministries, federal bodies and local authorities in each emirate. The system ensures integration in the financial statements for different sectors, allowing the presentation of accurate information that will enable decision makers to prepare plans and take appropriate decisions to manage public expenditure in the UAE.

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