Saturday 23 June 2018

New scheme to boost UAE financial planning, cash forecasts

ABU DHABI, July 15, 2017

 The UAE Ministry of Finance (MoF) and the Federal Authority for Government Human Resources have launched the first phase of the ‘e-link’ project between the financial planning system, the electronic federal budget, "Hyperion”, and the human resources information management system in the Federal Government, "Bayanati".

These projects are aimed at enhancing the financial planning and cash forecasts besides supporting federal budget automation and contributing to financial sustainability in ministries and federal agencies. It also ensure the efficient allocation of financial resources and optimal use of modern technologies.

MoF, in collaboration with the Federal Authority for Government Human Resources has also launched the’ Multi-Business Groups’ project, which allows ministries and federal entities that operate the "Bayanati" and federal financial system, to be flexible in implementing human resource laws and regulations, as well as financial systems amongst their own employees.

Younis Haji Al Khoori, the undersecretary at MoF, stressed the importance of the two projects.

"The e-linking project between Hyperion and Bayanati, which is used by 39 ministries and federal entities, will contribute to achieving the directions of the UAE leadership to shape the future through accelerating the smart transformation of all government institutions," stated Al Khoori.

"This will strengthen the position of the country, locally, regionally and internationally," he added.

According to him, the first phase of the e-link project between Hyperion and Bayanati includes withdrawing necessary information to prepare the budgets of ministries and federal entities from the Bayanati system; such as the number of employees and other employee data including grades, job titles and organisational units, and uploading them automatically into the Hyperion system.

This information will then be filtered and play a major role in reducing the time and effort put into the preparation of the budget. It will also support decision-makers in the country by giving them more accurate and comprehensive idea on the federal budget, he noted.

Al Khoori said that ministry will launch the second phase of the e-link project between ‘Hyperion’ and ‘Bayanati’ in collaboration with the Federal Authority for Government Human Resources in September 2017.

This phase, he stated, will include completion of the binary binding process for entering the approved federal budget automatically from the ‘Hyperion’ to ‘Bayanati’ system, and vice versa.

This will be available to all ministries and federal entities which work with the ‘Bayanati’ and financial systems, added Al Khoori.

Dr Abdul Rahman Al Awar, the director-general of the Federal Authority for Government Human Resources, said the UAE has achieved significant milestones in smart transformation.

"The e-link between ‘Hyperion’ and ‘Bayanati’, and the Multi-Business Groups project are key strategic initiatives for the UAE and federal government. The projects support MoF and the Authority’s efforts in developing a smart infrastructure for the UAE government database,"  explained Al Awar.

This will help decision makers in shaping future plans and developing smart government work systems to achieve the directives set out in the UAE Vision 2021 and national agenda, he added.-TradeArabia News Service

Tags: UAE | Finance Ministry |

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