Abu Dhabi’s Department of Finance and Statistics Centre- Abu Dhabi sign a cooperation agreement
In keeping with its commitment to forge strong partnerships and collaboration with various departments and government entities in the UAE, the Department of Finance (DoF) recently entered into a cooperation agreement with the Statistics Centre – Abu Dhabi (SCAD). The agreement aims to strengthen ties between the two parties and will help facilitate better exchange of statistical data and business intelligence between them, thereby boosting the strategic partnership between Department and the Center. The signing ceremony for the same was held at the DoF head office.
The agreement was signed by H.E. Mohammed Sultan Bin Gnome Al Hameli - Executive Director of DoF and H.E. Butti Ahmed Mohammed Bin Butti Al Qubaisi - Director of the Statistic Center. The agreement is in line with the outlined financial and socio- economic policy and will ensure sustainable development in Abu Dhabi; the signing ceremony was attended by heads of departments from both sides.
As part of the agreement, the two parties agreed on a collaborative framework that helps them in sharing and exchange of reliable statistical data related to Abu Dhabi without compromising either party’s individual legal powers and scope of influence.
Talking about the collaboration, HE Mohammed Hamli emphasized the critical role that Statistics Center plays in providing latest statistics and official data related to Abu Dhabi as the only official agency responsible for the collection and dissemination of statistical data for the Emirate. He said this agreement will positively affect the Department of Finance in its performance and it will be able to save critical time, effort and resources which it can then channelize in driving the development and economic prosperity of the Emirate.
He added: “DoF is responsible for providing specialized financial services and solutions for all government entities in the Emirate of Abu Dhabi, and it is our role to continuously develop and implement financial customs, legislations and policies across the Emirate. As part of this role we will continue to forge agreements and partnerships with leading institutions and authorities in the country that enable us to better advise the government in all matters related to these policies.”
H E Butti Al Qubaisi pointed that this agreement is recognition of SCAD’s role in the scientific data collection field. He reiterated SCAD’s commitment to collaboration with both governmental and non-governmental entities to help optimize the statistical resources for the Emirate. This agreement will help them in finding a more effective cooperation mechanism between the issuers and users of statistics, which will contribute towards optimizing statistical resources in the Emirate of Abu Dhabi. We will continue to improve frameworks to prepare overall statistical systems that are built on solid scientific foundation consistent with international best practices and standards of quality.”
As part of the agreement the two parties will work together on building a variety of technical aspects related to methodologies, statistical indicators, data collection and documentation cycle. They will also work on developing a common set of standards related to data exchange, in addition to defining structure of data systems..
In the recent past DoF has signed several agreements in Abu Dhabi with entities such as the agreement between General Directorate of Customs with Higher Colleges of Technology, the MoU with Khalifa Fund to support the Abu Dhabi economic and its citizens, and the agreement with Abu Dhabi General Services company (Musanada).
Department of Finance in UAE
The Department of Finance was established in 1962, and it plays a fundamental role in providing Abu Dhabi government entities with the best-in-class financial services and specialized solutions as well as managing available resources efficiently.