The Ministry of Finance (MoF) has launched a package of innovative initiatives as part of its commitment to the Zero Government Bureaucracy Programme, including the Zero Bureaucracy Ideas Award and brainstorming workshops.

These initiatives, which also include the Zero Bureaucracy webpage, will allow employees to discuss and suggest improvements to current procedures aiming to transform the customer experience.

Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, said, “We are committed to introducing new initiatives under the Zero Government Bureaucracy Programme to boost the involvement of MoF’s employees and customers in improving the quality and speed of government services.

“The programme is a strategic national effort that seeks to simplify government procedures and eliminate unnecessary requirements, aligning with the UAE government’s vision of providing fast and effective services to the community. We are confident that the new initiatives will play a significant role in advancing the ‘We UAE 2031’ vision and achieving the goals of ‘UAE Centennial 2071’.”

He emphasised that all ideas and proposals generated from these initiatives will be assessed by a team of specialists. The most effective ideas that align with the objectives of the programme will be adopted.

He also noted that launching the “Zero Bureaucracy Ideas Award” and involving the Ministry’s employees in workshops and brainstorming sessions highlights the Ministry’s commitment to fostering a culture of creativity and innovation as well as encouraging employees to contribute to the development of government operations, thereby enhancing customer experience.

The Ministry of Finance has involved its employees in the implementation of the ‘Zero Government Bureaucracy’ programme, initiated by the UAE government to enhance the quality and flexibility of its services.

Employees are encouraged to contribute ideas and proposals through workshops and brainstorming sessions that mainly focus on reviewing and improving current procedures of the ministry’s services to customers, aiming to increase their efficiency and speed.

As part of its strategy to engage employees in the Zero Government Bureaucracy Programme, the Ministry also launched the Zero Bureaucracy Ideas Award to motivate staff to devise innovative ideas that streamline government procedures, recognising their pivotal role as key partners in sustainable development.

The award will be more than just a competition; it will involve staff members in enhancing government performance while providing them with the opportunity to engage at various stages of the programme, boosting their interaction, and allowing them to submit proposals via a dedicated link. All submitted ideas are evaluated by a specialist team.

Meanwhile, the “Zero Bureaucracy” page on the Ministry’s website provides comprehensive information about the Zero Government Bureaucracy Programme and the services offered to customers.

It includes a link that invites all customer groups who interact with the Ministry’s services to share their ideas for service development and encourages them to participate in the decision-making process. All proposals will be collected, analysed, and smart ideas will be implemented.]]>

 

Dhs54 billion in new 3-month deposits: The UAE-based banks attracted new “3-month” deposits worth more than Dhs54 billion during the first five months of this year, according to the latest statistics from the Central Bank of the UAE (CBUAE).

The statistics showed that deposits in banks for three months recorded about Dhs659.01 billion at the end of May 2024 compared to Dhs604.99 billion in December 2023, a growth of 8.9 percent.

National banks accounted for 90.9 percent of three-month deposits, or Dhs 598.9 billion, while foreign banks accounted for 9.1 percent, or AED 60.02 billion.

UAE-based Banks attracted Dhs18.1 billion in term deposits during the first five months to reach Dhs227.71 billion at the end of May, up from Dhs205.4 billion at the end of 2023, a growth of 8.6 percent.

National banks accounted for 89.9 percent of term deposits, worth Dhs204.8 billion, while foreign banks accounted for Dhs22.8 billion, equivalent to 10.1 percent.

Term deposits of more than six months to 12 months attracted about Dhs15.2 billion during the first five months of this year to reach about Dhs275.89 billion at the end of May, compared to about Dhs260.6 billion in December 2023, an increase of about 6 percent.

National banks accounted for 92.2 percent of term deposits, equivalent to more than Dhs254.4 billion, while foreign banks accounted for 7.8 percent, equivalent toDhs21.42 billion.

Term deposits of more than 12 months recorded Dhs44.48 billion at the end of May, up by 0.52 percent or Dhs230 million compared to Dhs44.25 billion in December 2023.

National banks accounted for 94.1 percent, or Dhs 41.8 billion, of deposits over 12 months, while foreign banks accounted for 5.9 percent, or Dhs2.63 billion.

WAM