Sharjah links its financial systems with Emirates Gate of GFS Reports

The Ministry of Finance and the Central Finance Department of Sharjah announced Sharjah has linked its financial systems with the Emirates Gate of GFS Reports system.

This connection will strengthen the technical and functional capabilities of the Emirates Gate of GFS Reports team, supporting its efforts to deliver professional practices in the coordination of fiscal policies and to meet international government finance statistics requirements.

With the e-connection, the ministry aims to implement best international practices in government financial work to enhance financial integration and coordination in the United Arab Emirates on a local and federal level. Linking Sharjah’s financial systems to the federal financial system will improve the coordination of fiscal policies between government financial entities and, subsequently, the country’s financial performance.

Waleed Ibrahim Al Sayegh, director general of Sharjah's Central Finance Department, stressed the ministry’s role in adopting best techniques and practices to improve the UAE’s status on a global level.

He also highlighted the strong support of the Government Financial Policy Coordination Council, which is committed to implementing best practices in providing financial statements, as per the requirements of the International Monetary Fund and General Data Dissemination System. This has led to the UAE’s top ranking for fiscal policies in the World Competitiveness Yearbook 2015.