Government Financial Policy Coordination Council was constituted by Resolution No. 24 and is chaired by the Undersecretary of the Ministry of Finance. Its members include representatives from each emirate and a representative from the UAE Central Bank. Membership of the Council lasts for a term of three years, but can be renewed upon expiry.
The competencies of the Council, as set out in the Resolution, includes overseeing the collection of government financial data and reports at state level, preparing government financial policies, seeking mutual consultation on draft budgets, financial and economic developments, and coordination of increasing revenues, tax policies and project financing mechanisms. The Council’s competencies also include rating the country and local governments in International Credit Reports.
Cabinet Resolution No.24 of 2015