Participants in the inaugural Arab Financial Forum for the Sharjah Prize in Public Finance highlighted the crucial role of technology, modern techniques, and digital transformation solutions in enhancing financial operations, streamlining administrative processes, and achieving efficiency. The forum, held over 24 days and concluding in Cairo, emphasized the significance of investing in infrastructure development to improve services and increase management efficiency. It also underscored the importance of utilizing financial information systems for organized and efficient collection and analysis of financial data.
Organized by the Arab Organization for Administrative Development of the League of Arab States in collaboration with the Board of Trustees of the Sharjah Award in Public Finance, the forum focused on “Pioneering Experiences and Practices in Public Finance to Confront Contemporary Challenges.”
The five-session forum brought together a distinguished group of senior officials, experts, and specialists in public finance and financial management from various Arab countries. Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Central Finance Department and Secretary-General of the Sharjah Award in Public Finance, and Dr. Nasser Al Hatlan Al Qahtani, Director General of the Arab Organization for Administrative Development, were among the attendees.
Dr. Azzam Ermeli, Advisor to the Arab Organization for Administrative Development, presented the final statement of the forum. The statement emphasized the importance of continuous support for the recommendations arising from the forum to enhance public financial management in Arab countries. Key areas include transparency, combating corruption, adopting digital solutions, fostering innovation, improving revenues and expenditures, enhancing investment attractiveness, and prioritizing financial sustainability. The statement also highlighted the significance of international cooperation, research, studies, training, and professional development.
Sheikh Rashid bin Saqr Al Qasimi expressed pride in the forum’s success and its impact on public financial management discussions. He noted the valuable contributions from participants and stressed the forum’s alignment with the goals of the Sharjah Award in Public Finance.
The agenda of the second day featured sessions on contemporary practices in public financial management and Arab experiences in public finance management. Topics covered included control over public expenditures, transitioning from cash to accrual basis accounting, special funds and units, transparency of the public budget, and efficiency improvement in public finance performance.
The forum provided a platform for sharing insights, experiences, and best practices in public finance, contributing to the ongoing efforts to address challenges and developments in economic, social, and other fields.
