Our financial decisions are studied and implemented by young competencies to consolidate the leadership of the Emirates

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Governor of Dubai, Deputy Prime Minister and Minister of Finance, reviewed the annual report of the Ministry of Finance for the year 2024, entitled: “Financial Sustainability and Global Entrepreneurship”, which documents the most important achievements of the ministry, reviews its financial statements, and highlights its national initiatives and projects during the year.

His Highness stressed that “the UAE emerges as a destination and growth destination in a world in which the pace of change is accelerated, and economic challenges are increasing, based on the vision of its wise leadership that has established the principles of the advisory vision and the flexibility of adaptation with global transformations as basic pillars in its development path.”

His Highness said: “The trends of the wise leadership, headed by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, are based on building an integrated economic system based on diversity and continuous renewal, whose main axis is man.”

His Highness added: “The Ministry of Finance has achieved qualitative leaps in its march towards developing government financial work and enhancing its role in supporting the national economy through forward -looking financial policies that put the state on the path of sustainable growth. During the year 2024, the Ministry has made important strategic steps, which reflects its commitment to achieving the goals of the rational leadership and enhancing the state’s position at the international level.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum explained that the continuation of the success achieved by the government treasury bonds program, and the Islamic treasury bonds program denominated by dirhams, confirms the Ministry of Finance’s commitment to developing financing tools that support the national economy, and enhances the state’s position as an attractive global destination and incubator for financial investments, which reflects our ability to meet the needs of the local and international financial market, and enhance financial liquidity in a sustainable manner.

His Highness noted that preserving the sovereign credit rating of the UAE by international classification agencies, such as “Fitch” and “Moody’s”, is a sign of economic stability and international confidence in the financial policies of the state, and this classification is a major indication of the state’s ability to fulfill its financial obligations, which enhances the UAE’s attractiveness is a safe and stable investment destination.

His Highness continued: «At the international level, the Ministry of Finance played a pivotal role in formulating global financial policies, through its effective participation in the meetings (Group of Twenty) and (BRICS Group), the International Monetary Fund and the World Bank, and other regional and international organizations and organizations, these posts are not just attendance, but rather an effective impact on forming the global financial agenda, and enhancing the position of the UAE as a major player in the international financial system, from During these platforms, the state contributes to developing innovative strategies to confront global economic challenges and enhance international cooperation to achieve sustainable development goals.

His Highness said, in a post on the “X” platform, yesterday: “I reviewed the annual report of the Ministry of Finance for the year 2024, which embodies a general harvest of ambitious national work, and documents the success of government financing tools by launching 14 auctions within the Islamic Treasury Sukuk program worth 17.1 billion dirhams.”

His Highness added: “Our economic link is fixed in its development within a changing world, and our financial decisions are studied by a wise vision and sustainable financial policies, implemented by young Emirati competencies, and we continue to consolidate the leadership of the Emirates as a global financial center.”

In turn, the Minister of State for Finance, Mohammed bin Hadi Al -Husseini, stressed that “the Ministry of Finance stands at the forefront of government agencies that are constantly working on sustaining excellence and innovation in all areas of its work, and plays a pivotal role in strengthening the process of sustainable economic development, in light of the ambitious vision that the UAE seeks to achieve in the ranks of developed countries, embodying the vision (Emirates Centenary 2071).”

He added: «Given the growing global economic challenges, the need to develop an integrated system of policies and procedures has emerged in accordance with the best global practices to keep pace with these changes, as in 2024 a series of qualitative achievements of the ministry witnessed, and succeeded in implementing strategies that strengthened the state’s position at the regional and international levels.

Al -Husseini explained that one of the most prominent of these achievements is the launch of several initiatives to enhance the sustainable management of financial resources, including developing policies related to the management of assets, inventory and rent in the federal government, with the aim of improving the efficiency of resource use and achieving the maximum benefit from it, and the Ministry has worked to enhance transparency and accountability in financial operations, and achieve exceptional performance in its journey towards a comprehensive digital transformation, in line with the UAE’s digital government strategy 2025, And the vision of “We Emirates 2031”, stressing that the ministry continues to take a steady pace towards achieving the vision of wise leadership in building a sustainable and varied national economy.

An advanced legislative framework

The annual report includes an explanation of the development of the state’s legislative and legal framework for the state, as the legislation varied between the laws linking the general budget of the union, the adoption of the unified financial statements for the fiscal year 2023, and fundamental amendments to the laws facing money laundering and tax crimes.

“Sukuk” program

During its pioneering career in 2024, the Ministry of Finance managed to achieve achievements that are directly consistent with its strategic goals aimed at establishing a comprehensive financial system based on innovative policies and programs, where the annual report reviews the continuation of the success of the Islamic treasury instrument program in the UAE dirham, since its launch in May 2023.

The program achieved remarkable success in all auctions that were presented, until the end of 2024, which amounted to 14 auctions, with a record standard for the size of each auction worth 1.1 billion dirhams, and with a total nominal value for the sukuk amounted to 17.1 billion dirhams.

The balance of the total internal public debt reached 23.45 billion dirhams at the end of 2024, when the value of the existing balance of government treasury bonds program reached 6.35 billion dirhams, after paying the first segment of bonds for two years with a nominal value of 4.85 billion dirhams, while the existing balance of the Sukuk program is 17.1 billion dirhams.

Maktoum bin Muhammad:

• Our economic link is fixed in its development within a changing world.

• Building an integrated economic system based on diversity and renewal, its main axis is the human.