UAE Ministry of Finance Earns Top Global Ranking in Institutional Resilience

UAE, 15 August, 2024 : The UAE Ministry of Finance (MoF) has achieved an advanced position in institutional resilience following a rigorous evaluation conducted in collaboration with the British Standards Institute (BSI). The assessment was based on ISO 22316:2017 and BS 65000:2014 standards, highlighting the Ministry’s efficiency, adaptability, and preparedness for economic challenges.

The evaluation covered four main categories with 16 elements, including MoF’s ability to manage internal and external challenges, leverage new opportunities, and enhance decision-making. The Ministry ranked among the top global performers, surpassing 1,250 institutions in the financial sector.

H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, praised the achievement, emphasizing the Ministry’s commitment to global best practices and its role in strengthening the UAE’s position as a leading financial hub. He highlighted the Ministry’s focus on sustainable growth, efficient financial management, and alignment with national strategies like ‘We the UAE 2031’ and ‘UAE Centennial 2071’.

Institutional resilience, defined as an organization’s ability to adapt to changes and seize new opportunities, is key to maintaining operational stability and enhancing long-term success. This accomplishment underscores the Ministry's strategic vision of building a flexible, sustainable financial system for the future.

Source : www.mof.gov.ae