His Excellency Mr. Youssef Abdullah Al -Hamoud, Undersecretary of the Ministry of Finance and National Economy for Financial Affairs, headed the delegation of the Kingdom of Bahrain participating in the joint annual meetings of Arab financial bodies, which was held in the sisterly State of Kuwait.
The joint annual meetings of the Arab financial bodies included the meeting of the Council of the Arab Fund for Economic and Social Development, the meeting of the shareholders of the Arab Investment Corporation for Investment and Export Credit, the meeting of the Council of the Arab Monetary Fund, the meeting of the Council of the Arab Bank for Economic Development in Africa, the meeting of the Council of the Arab Authority for Investment and Agricultural Development, the meeting of the Supervision Council of the Bad Fund, and the meeting of the Council of Arab Finance.
His Excellency the Undersecretary for Financial Affairs stressed during his intervention on the experience of the Kingdom of Bahrain in the digital transformation in public finances that the Kingdom of Bahrain is moving steadily towards achieving a comprehensive digital transformation in public finances, with the aim of improving the quality of government services and enhancing financial sustainability. He pointed out that the Kingdom has implemented a number of strategic initiatives that contribute to improving the management of the state’s financial resources.
His Excellency also added that the Kingdom worked to launch joint financial services and centralization of purchasing procedures, as well as automating the preparation and implementation of the state’s general budget. In addition to introducing advanced techniques that allow the budget to be prepared completely digital.
This, during the meetings, a number of issues of financial and economic affairs that contribute to enhancing the paths of joint Arab action were discussed and created renewable horizons for financial, economic and development cooperation between the various Arab countries in a way that is good and development for all, in addition to reviewing the achievements achieved by the Arab financial bodies during the past year and their contributions to promoting and supporting joint Arab work, and discussing the latest economic and financial developments in the Arab region.
