Arab Financial Forum 3 Highlights Public Finance Innovations At Sharjah Award In Morocco

The third Arab Financial Forum for the Sharjah Award for Public Finance began in Tangier, Morocco. Organised by the Sharjah Finance Department (SFD) with the Arab Administrative Development Organisation (ARADO), it focuses on "Distinguished Experiences in Developing Public Finance." This event is a key platform for sharing expertise among Arab nations, gathering ministers, officials, and financial experts to discuss best practices in government finance management.

Dr Nasser Al Hatlan Al Qahtani, Director General of ARADO, highlighted that this forum unites representatives from 13 Arab countries' ministries and financial bodies. He stressed its importance as a venue to showcase successful public finance experiences and foster collaboration for innovative financial policies. The forum's discussions aim to advance financial systems across the Arab world.

Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of the Sharjah Award for Public Finance, emphasised public finance as crucial for societal stability and sustainable development amidst global economic changes. He noted that forums like this are strategic platforms for exchanging experiences and formulating solutions to enhance Arab financial systems' efficiency in addressing new challenges.

Al Qasimi also acknowledged His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi's leadership in promoting knowledge-building and transparency in financial management. The forum's discussions and case studies are expected to guide an Arab roadmap towards more effective financial systems.

Waleed Al Sayegh, Director General of the Sharjah Finance Department, shared Sharjah's experience with performance-based budgeting. This approach has improved financial planning efficiency by aligning resources with strategic goals. He stated: "Sharjah’s experience in performance-based budgeting is not merely a change in the way budgets are prepared; it is a qualitative leap toward linking development plans with measurable real-world outcomes."

Al Sayegh further explained that success requires strong political will and a framework linking strategy with results. Continuous training programs are essential to adapt to evolving challenges. A dedicated system should be developed to collect requirements specific to each government entity, ensuring maximum efficiency.

Arab Cooperation and Governance

Ahmed Laamoumri, Secretary-General of the National Authority for Integrity, Prevention and Combating Corruption, along with Abdellatif Afailal, President of the Chamber of Commerce, Industry and Services of Tangier–Tétouan–Al Hoceima, praised the forum as an advanced model of Arab cooperation. They highlighted its role in enhancing financial reforms based on transparency and good governance.

The opening session featured speeches from Moroccan officials like Dr Amal El Falah El Saghrouchni and Nadia Fettah Alaoui. Their participation underscored Morocco's commitment to digital transition and administrative reform within the context of regional cooperation in public finance development.

This forum reflects ongoing efforts to unify visions among policymakers while adopting global best practices. It aims to strengthen Arab cooperation by embedding transparency and efficiency into financial management systems across the region.

With inputs from WAM