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Ras Al-Khaimah / Emirates Business
The RAK Finance Department signed a partnership with the Emirates Auction, a company in the field of management and organisation of public and online auctions in the Middle East, to organise auctions for selling all RAK Government-owned assets.
The agreement was signed at the Department’s headquarters by His Excellency Youssef Ali Mohamed, Director General of RAK Finance Department, and His Excellency Abdullah Matar Al Mannai, Chairman and Managing Director of Emirates Auction, in the presence of senior officials from both sides.
Speaking about the pact, Youssef Ali Mohamed said: “Our partnership with Emirates Auction would help support the comprehensive development plans and programs and ensure the effective implementation of financial policies, as well as use the most sophisticated smart systems for the benefit of the stakeholders, in accordance with the highest international practices and standards.â€
He went on to say that the agreement comes as part of the Department’s painstaking efforts to improve the performance and speed up the completion of transactions, in line with the wise vision of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, in terms of stepping up the efforts to continue the emirate’s development process.
For his part, Abdullah Matar Al Mannai said: “The agreement would help accelerate asset transfer procedures with the highest return, thus saving time, effort, and cost.â€
Al Mannai affirmed that Emirates Auction will make the most of its resources and capabilities, as well as apply the best practices and standards in a seamless and dynamic manner to achieve the objectives of the RAK Finance Department and to bring happiness to its customers.
He pointed out that the partnership has a twofold objective: first, to bring lucrative returns to the departments of RAK Government; and secondly, to display movables at competitive prices, using the best international bidding online systems.