Hamdan bin Mohammed issues the executive regulations of the Dubai Government Financial System Law
His Highness 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) of 2021 issuing the executive regulations for Law No. (1) of 2016 regarding the financial system of the Dubai government.
The decision specified the systems, applications and smart financial solutions related to the management and planning of government financial resources that are approved by the Department of Finance, and also obligated government agencies to use the systems, applications and smart financial solutions approved by the Department of Finance, in accordance with the mechanisms, powers and procedures for operating each system or application, and all financial operations that take place are considered By means of smart financial systems, applications and solutions approved by the department, producing their legal effects, whenever those operations are in compliance with the applicable legislation.
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 For the Department of Finance, and that these smart financial systems, applications and solutions are in line with what is approved by the Department of Finance, and be linked to it, 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 functions of the official of the government agency in implementing the annual budget, and the decision also regulated the rules for delegating financial powers.
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