UAE- Financial Policy Coordination Council holds meeting

(MENAFN- Emirates News Agency (WAM)) DUBAI, 25th December, 2019 (WAM) -- The Ministry of Finance, MoF, recently held the third meeting of the Government Financial Policy Coordination Council for 2019. The meeting was headed by Younis Haji Al Khoori, Under-Secretary of MoF and Chairman of the Government Financial Policy Coordination Council.

During the meeting, members discussed a set of major topics, foremost of which was the proposed amendment to the Special Data Dissemination Standard, SDDS, of the International Monetary Fund, IMF. The SDDS, established in 1996, is a global benchmark for disseminating macroeconomic statistics to the public.

Meeting participants also reviewed the UAE's financial statements for 2018-2019, financial risks record on the national level, forming the financial objectives and rules in the UAE, as well as the country's most important financial and monetary developments.

Al Khoori stressed the pivotal role that the meetings of the Government Financial Policy Coordination Council play, and the contributions of its members ranging from all UAE government's financial departments and relevant government entities in coordinating and developing financial policies that improve the financial systems and enhance the UAE's competitiveness levels.

The Government Financial Policy Coordination Council was formed by Resolution No. 39 of 2008 of the Cabinet. Its members consist of the Under-Secretary of the Ministry of Finance, representatives from local UAE governments, and a representative of the UAE Central Bank. Three periodical meetings are held annually, and the council is reconstituted every three years.

 

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