Wed, 27 Sep 2023

SHARJAH, 7th April, 2023 (WAM) -- Salem Youssef Al-Qaseer, Chairman of the Board of Trustees of the Sharjah Prize in Public Finance, the first-of-its-kind in the Arab world, confirmed that the second edition of the award includes 17 different categories, which indicate a qualitative leap at the Arab level in the light of a large and remarkable turnout.

New Look After Increasing Institutional and Individual Categories

Al-Qaseer indicated that a group of introductory seminars and workshops organised in several Arab countries focused on defining the objectives and importance of the award. It brings a new look after increasing its institutional and individual categories while expanding the list of targeted candidates from Arab countries and institutions, as well as developing the award guide, including technical and organisational conditions and criteria, to be more compatible with the current financial and economic changes and challenges.

Several Goals and Insightful Vision

Al-Qasir explained that since its establishment in 2016, the award, according to the vision and directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has been working on translating its vision of "achieving outstanding government financial performance". It emphasises the message that refers to "Creating and consolidating a qualitative shift in the performance, results and services of public finances in government agencies and institutions in the Arab region to reach a world-leading level, by providing a guiding model for excellence, and a continuous and sustainable set of improvement initiatives and development activities," and working hard as one integrated team.

The award seeks to achieve a package of objectives to encourage the optimal utilisation of financial resources by using the best financial and administrative systems and government budgets to achieve sustainable development, achieve the principles of transparency, accountability and governance in all government agencies and their effectiveness in using the allocated funds to achieve the best returns and mobilise efforts to come up with innovative and creative solutions to develop mechanisms.

The work of government agencies in the matter of public finance, in addition to strengthening and enabling them to effectively implement the functions of financial and accounting management, keeping pace with international best practices in managing government finances and the public budget, deepening the application of the concept of performance budgets of various types in the matter of public finance, and providing indicators of a high degree of Comprehensiveness and accuracy to support policy makers, decision makers and strategic planners in public finance, are also among its objectives.

17 Different Categories Concerned With Empowering Financial Sector

The award's second edition includes 17 different categories, nine of which are institutional, and eight individual categories. They would enable the financial sector to be a successful and sustainable lever for developing Arab countries by continuously measuring and evaluating its adherence to standards of excellence related to the financial sector at government-level institutions in Arab countries and enriching the competition among them to achieve optimal performance and successful financial management practices and experiences.

Institutional and Individual Categories

Institutional categories are the privileged body in public finance. These are the distinguished entity in electronic financial systems and applications; distinguished entity in management of financial projects; distinguished entity in financial innovation; distinguished authority in cash management and sovereign funds; distinguished entity in control, auditing and financial risk management; distinguished entity in providing financial services; distinguished entity in financial banking services and distinguished entity in the management of pension / social security funds.

As for the individual categories, these are the Distinguished Arab Financial Manager; Distinguished Arab Budget Manager; Distinguished Arab Tax Manager; Distinguished Arab Account Manager; Distinguished Arab Electronic Financial Systems Manager; Distinguished Arab Procurement and Contracts Manager; Distinguished Arab Financial Controller and Distinguished Arab Financial Accountant.

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