The Ministry of Finance (MoF) has achieved an "advanced" position in institutional resilience, following an assessment by the British Standards Institute (BSI) based on ISO 22316:2017 and BS 65000:2014 standards.
This recognition highlights the Ministry's efficiency and preparedness in addressing economic changes and challenges, demonstrating a forward-thinking approach to future developments.
The evaluation, which included 48 questions covering four main categories and 16 elements, assessed the Ministry's ability to adapt to internal and external challenges, leverage new opportunities, ensure operational health and safety, and enhance decision-making capabilities. The MoF ranked among the top global performers, surpassing 1,250 financial institutions in several aspects of institutional resilience.
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, expressed pride in this global achievement, emphasizing the Ministry's commitment to implementing best practices and enhancing adaptability. He noted that this accomplishment aligns with the UAE's strategic goals, including the "We the UAE 2031" and "UAE Centennial 2071" visions, and positions the UAE as a leading financial hub.
Institutional resilience, defined as an organization's ability to adapt to changes and leverage new opportunities, is essential for maintaining stability and boosting performance. The MoF's proactive approach to resilience aims to ensure long-term success through continuous improvement and adaptation to global developments.
News Source: Emirates News Agency
