Dubai establishes a public debt management office

Dubai (Union)

The Dubai Government Finance Department said its Public Debt Management Office will undertake a number of responsibilities, including meeting the government’s financing needs, managing the public debt portfolio, setting strategic goals and necessary policies, and making risk monitoring, to ensure government funding. sustainability.
The office will also maintain high levels of transparency and reliability, to enhance the confidence of investors and financial institutions in the Dubai Government’s financial hub. The Public Debt Management Office was established by Law No. (8) of 2022 regulating the public debt of the Government of Dubai, which was issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his as Ruler of the Emirate of Dubai, which was followed by the appointment of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, Rashid Ali bin Aboud Al Falasi, Executive Director of the office .
His Excellency Abdul Rahman Saleh Al Saleh, Director General of the Department of Finance of the Government of Dubai, highlighted that the establishment of the Public Debt Management Office reflects the continuous efforts of the government to strengthen the financial position of the emirate, in addition to complying with the government funding requirements, which will enrich the government’s ongoing initiatives, including investment in the development of infrastructure projects in various sectors, with the aim of improving the quality of life and enhancing the global competitiveness of the Emirate, to serve to the aspirations of rational leadership.
For his part, Rashid Ali bin Aboud Al Falasi, Executive Director of the Public Debt Management Office, said: The establishment of the office aims to ensure the management of the public debt portfolio with high efficiency and develop plans and programs to improve the financial situation. policy in the emirate in general, and public debt in particular, including the diversification of financing sources, to ensure the financing needs of the government and to develop indicators and standards related to public debt. He added: “The office’s objectives include raising levels of transparency and reliability and enhancing the confidence of investors and financial institutions, locally and internationally, in the Dubai government’s financial hub, and its strategic vision and initiatives in various fields.

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