UAE Ministry of Finance Showcases Digital Innovation at GITEX Global 2024

UAE, 25 December, 2024 : The UAE Ministry of Finance hosted three dialogue sessions at GITEX Global 2024, held from October 14 to 18 at the Dubai World Trade Centre. The sessions showcased the ministry’s digital initiatives and efforts to advance government financial services through innovation and smart technology.

H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, emphasized the significance of digital transformation initiatives like “Virtual Mona,” the “Zero Bureaucracy” Programme, and the “e-invoicing system” in enhancing efficiency and transparency in financial services.

Virtual Mona
The first session introduced “Virtual Mona,” an intelligent financial data consultant powered by AI and augmented reality. The tool supports decision-making by providing accurate insights through advanced data analytics, aiding government entities in leveraging data effectively.

Zero Bureaucracy Programme
The second session highlighted the “Zero Bureaucracy” Programme, launched in 2023 to streamline government processes. Key achievements include reducing customer journey steps by 50%, automating approvals through AI, and creating a unified supplier portal for seamless digital procurement.

E-Invoicing System
The final session focused on the “e-invoicing system,” developed in collaboration with the Federal Tax Authority. The system simplifies invoice issuance and tax compliance, reducing costs and curbing VAT evasion.

The sessions reinforced the ministry’s commitment to comprehensive digital transformation and underscored the UAE’s position as a global leader in government financial innovation.