Arab Finance Forum Explores Emerging Trends In Public Finance And Digital Transformation Across Arab Nations

The Arab Administrative Development Organisation (ARADO), under the patronage of the Ministry of Finance and in collaboration with the Government of Sharjah, hosted the "Arab Financial Forum in the UAE - Sharjah Award for Public Finance: Excellence and Government Financial Leadership" in Dubai. This event aimed to facilitate knowledge exchange and best practices in public finance among Arab countries, enhancing their ability to tackle modern financial challenges.

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, highlighted the forum's role as a platform for sharing expertise and success stories in digital transformation and financial leadership. He stated, "Digital transformation in public finance remains our focus. The UAE government, under its wise leadership, has demonstrated a steadfast commitment to transparency and efficiency by adopting an accrual accounting system, significantly enhancing financial performance."

The forum showcased government success stories in digital financial transformation. It brought together experts and officials to discuss trends in public finance, reinforcing collaborative efforts across the Arab world to improve government financial performance. Participants included Waleed Ibrahim Al Sayegh from Sharjah Finance Department and Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of Sharjah Public Finance Award.

Dr Nasser Al Hatlan Al Qahtani, Director General of ARADO, praised the UAE's leadership in supporting initiatives that advance financial development in the Arab region. He noted that the forum provides an excellent platform for professionals to exchange insights on global best practices. Dr Al Qahtani commented, "We are pleased to organise the Arab Finance Forum in the UAE, a country that serves as a model in sound financial management."

The Sharjah Award for Public Finance was highlighted as a testament to encouraging innovation and inspiring excellence in financial management. Dr Al Qahtani expressed hope that this award would elevate financial performance standards across Arab institutions. He emphasised strengthening public-private partnerships within Arab nations to build sustainable economies.

Sheikh Rashid bin Saqr Al Qasimi expressed satisfaction with hosting the forum under the Ministry of Finance’s patronage. He remarked that showcasing digital transformation success stories reflects a commitment to improving government financial performance. He added that recognising outstanding efforts motivates entities to achieve excellence aligning with sustainable development goals.

Promoting Innovation and Collaboration

Sheikh Rashid also highlighted the pivotal role of the Sharjah Award for Public Finance in driving innovation within financial institutions. He noted that this award embodies Sharjah’s vision to enhance government financial performance through an efficient environment. "We look forward to the forum continuing as a platform that encourages innovation and excellence," he added.

The agenda included showcasing public finance success stories at various government levels, fostering knowledge exchange among over 80 representatives from more than 30 federal and local entities in the UAE. A session titled "The Federal Government's Journey in Accrual Accounting Transformation" was presented by Sheikha Rashid Al Kaabi from the Ministry of Finance.

Huda Hassan Al Yasi from Sharjah Finance Department shared insights on Sharjah’s digital transformation success story in revenue collection, highlighting enhanced efficiency. The forum underscored collaborative efforts across Arab nations to achieve sustainable economic prosperity through improved public finance practices.

With inputs from WAM