Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai, issued Council Resolution No. (5) for the year 2021 to issue the executive regulations for Law No. (1) for the year 2016 regarding the financial system of the Dubai government.
According to Arabnet, the decision defines the systems, applications and smart financial solutions related to the management and planning of government financial resources that are approved by the Finance Department.
It also obligates government agencies to use the systems, applications and smart financial solutions approved by the Finance Department, in accordance with the mechanisms, powers and procedures for operating each system or application.
All financial operations that are carried out by means of systems, applications and smart financial solutions approved by the department are considered to produce their legal effects, as long as those operations are in compliance with the legislation in force, according to what was mentioned in the Emirates Today newspaper.
According to the decision, government agencies may adopt their own smart financial or accounting systems, applications and solutions, subject to a number of conditions, including: That these smart financial systems, applications and solutions comply with Law No. (1) of 2016 regarding the financial system of the Dubai government and the decisions issued pursuant to it and circulars issued On behalf of the Department of Finance, and that these smart financial systems, applications and solutions are compatible with what is approved by the Department of Finance, and that they are linked to them, and the prior approval of the Department of Finance and Dubai Smart Department to establish these systems, applications and smart financial solutions must be obtained.
The decision regulates the rules for collecting and supplying public revenues, procedures for collecting and supplying them, the mechanism for outsourcing their collection, the functions of the Director General of the Finance Department in implementing the general budget, and the responsibilities of the official of the government agency in implementing the annual budget, and the decision also regulated the rules for delegating financial powers.
