As part of its ongoing efforts to enhance cooperation with local and regional government bodies, the Ministry of Finance (MoF) recently received a delegation from the Ministry of Education - Saudi Arabia at its headquarters in Abu Dhabi. The main aim behind the visit was to exchange expertise and to familiarise the visitors with MoF’s expertise in designing government financial systems. The meeting also shed light on the application of zero-based budgeting (ZBB) and the means adopted to achieve the greatest possible benefit from these systems.
In the presence of Assistant Undersecretaries and Heads of Departments at MoF, HE Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, received the Saudi delegation, headed by Saleh Bin Abdul Aziz Al Humaidi, Assistant Undersecretary of Administrative and Financial Affairs at the Ministry of Education, in addition to a number of specialized staff in the financial and administrative areas.
HE Al Khouri welcomed the Saudi delegation while stressing on the importance of enhancing cooperation opportunities between the Ministry of Finance and various Saudi government bodies. Additionally, HE Al Khouri highlighted the need to develop and reinforce those relations in order to achieve the greatest possible benefits for both countries.
The meeting included a presentation by the Ministry of Finance on its implementation of the ZBB system. The Budget Department team at MoF presented analyses charts to clarify the results of this initiative.
HE Al Khouri said: “The Ministry of Finance has already realised the importance of automating the government financial processes to fall within an electronic framework that allows all professionals to interact remotely, especially in the field of preparing the draft federal budget. In return, this will act as the leading example to be followed by other government bodies in this field at regional and global levels.”
It is worth mentioning that the Ministry of Finance last October also received a delegation from the Capital Market Authority of Saudi Arabia.