SFD department issues its 2016-2018 financial strategy

Sharjah / Emirates Business

In a move to achieve the vision of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, the Sharjah Central Finance Department (SFD) issued its financial strategy for the period of 2016 to 2018, with an objective to develop a financial, strategic and technical operating system and achieve high performance indicators across various departments, offices and divisions.
The new financial strategy builds upon previous strategic plans, and comes in line with the government’s strategic directions and priorities, and within the framework of its unified vision and teamwork.
The launch of the new strategy follows the realistic approach adopted by the Sharjah Central Finance Department . It involves a study of the financial and economic conditions at the local, regional and international levels, tracing the influential variables and reviewing, examining and analysing a number of internationally recognised models in the fields of government strategic management and public finance. The Sharjah Central Finance Department’s strategic plan was therefore developed to comply with the local and international directions and strategies, with an aim to learn from the experiences of others and achieve the highest levels of interaction.
The plan for 2016-2018 includes several strategic objectives within the Sharjah Central Finance Department’s vision and within the framework to build an innovation-based financial system that ensures sustainable financial growth and socioeconomic prosperity. It also seeks to develop a general framework of the emirate’s financial policy to improve government spending efficiency and financial performance, as well as a financial system that will achieve financial stability and sustainability. A set of measures were taken to ensure effective management of the public debt improves the credit rating of the emirate, and special attention was also given to develop certain skillsets. The strategy is based on several values including transparency, social responsibility, creativity, innovation, integrity and empowerment.
HE Waleed Al Sayegh, Director General of the Sharjah Central Finance Department, stated: “The launch of this strategy reflects the Sharjah Central Finance Department’s goal to carry out the vision of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, in developing government and financial performance efficiency in the Emirate of Sharjah. The new strategy builds upon the highly successful plans put in place in the previous years, and we are looking forward to adopting a distinctive model in public finance, as we have the required staff and infrastructure to do so.”
Al Sayegh added: “The Sharjah Central Finance Department is committed to keeping pace with ongoing economic development to achieve the optimal results.