Abu Dhabi financial law underscores transparency, accountability
The law was issued by Khalifa bin Zayed Al Nahyan, ruler of Abu Dhabi and president of the United Arab Emirates.
The law makes the city’s finance department responsible for “designing and executing a comprehensive financial system with high economic effectiveness and efficiency,” the chamber said. It covers treasury management, bank account regulation, public debt management, pricing requests, budgeting and more.
Ownership policy for government institutions and businesses, issuance of expected performance statements, and the monitoring of financial performance also fall under the law’s reach.