MoF Continues To Promote Financial Literacy Amongst Different Segments In The UAE
The Ministry of Finance (MoF) recently organised a lecture on the methods of preparing the Federal General Budget for a group of Political Science female students at the United Arab Emirates University (UAEU). The lecture is one of the many initiatives that MoF is taking part in to increase financial literacy awareness amongst the community.
Some of the lectures attendees included HE Younis Haji Al Khouri, Undersecretary of MoF, HE Saeed Al Yateem, Executive Director of Revenue and Budget of MoF, and a number of the Ministry’s Department Directors.
Some of the main topics addressed during the lecture were the stages of the zero-based budgeting (ZBB) and its implementation, the objectives of ZBB, in addition to highlighting adopted mechanisms in managing financial operations. The session also shed light on the benefits of the Joint Financial Procedures Manual and a range of the financial systems developed by MoF. An interactive discussion took place among students and MoF’s officials at the lecture’s conclusion.
Commenting on this lecture, HE Al Yateem said: "The Ministry of Finance is keen on continuously enhancing financial awareness and knowledge among various groups in the UAE and particularly amongst youth. Driven by this principle, we have been hosting a number of lectures and organising field visits to various educational institutions in the UAE. Through these efforts, we aim to familiarize the community with the latest financial management practices pertaining to government resources which are adopted by the Ministry.”
"The UAE is considered to be the first country to use the Hyperion System to automate the budgeting process at all federal ministries. The UAE was also the first to work on automating the zero-based budgeting system using the Oracle Hyperion Planning system. The Ministry of Finance is required to inform the local community of these accomplishments and achievements to encourage them to be innovative in their respective fields of work,” HE Al Yateem added.
It is with mentioning that MoF previously organised an introductory meeting on the Gulf Common Market in the United Arab Emirates University- Al Ain and the American University in the Emirates- Dubai.
Emirate: Abu Dhabi
Date: Dec 6, 2012
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