New charter between UAE financial entities to strengthen performance

The finance departments of Ras Al Khaimah, Sharjah, Ajman, Umm Al Quwain and Fujairah are partnering to boost performance across the board through a Joint Strategic Charter.

The partnership will see the development of a unified scorecard to track a set of indicators and standards.

This will help identify necessary mechanisms, spot challenges and periodically re-evaluate the charter and offer recommendations for further development.

Additionally, the charter will boost financial and institutional performance through competitive benchmarking.

Overall, the country’s financial and accounting competitiveness will be notably strengthened in light of this new charter.

A series of activities including meetings, seminars and joint conferences will see participation in various local, regional and global financial excellence programmes, which will, in turn, support and strengthen the financial and accounting systems in the UAE, and enhance the country’s competitiveness in this regard both in the Arab region and globally.