Dubai: The Ministry of Finance (MoF) has signed a memorandum of understanding (MoU) with the University of Sharjah to strengthen strategic and institutional cooperation in the fields of open data and financial data analytics. The agreement aims to support the development of financial policies, enhance knowledge partnerships, and promote the exchange of expertise and best practices between the two sides, in line with the UAE's commitment to innovation and financial sustainability.
According to Emirates News Agency, the MoU was signed at the Ministry's headquarters in Dubai by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Prof. Esameldin Agami, Chancellor of the University of Sharjah. The signing was attended by several representatives from both institutions, highlighting the collaborative effort to bolster financial data management.
Younis Haji AlKhoori emphasized that the MoU aligns with the Ministry's commitment to forging strategic partnerships with national academic institutions, recognizing their vital role in strengthening the government innovation ecosystem and advancing knowledge-driven financial policymaking. He stated that the partnership will utilize scientific research and modern technologies to enhance financial data analysis, ultimately improving the efficiency and adaptability of financial policies to keep pace with global developments.
AlKhoori further highlighted that the Ministry of Finance is focused on developing a comprehensive financial data management system characterized by transparency and innovation, thereby supporting the UAE's vision of a digital economy and financial sustainability. The collaboration with the University of Sharjah is expected to produce specialized studies and analyses based on open data, providing strategic insights for decision-makers.
Prof. Esameldin Agami remarked that the MoU will accelerate the University's efforts to reinforce institutional partnerships with national government entities. He noted that the university's role extends beyond education, serving as an active partner in policy development through research that supports national development priorities. Agami emphasized the importance of applied research in addressing development challenges and preparing students for the evolving labor market.
The MoU establishes a framework for analyzing open data to produce research studies and reports, aiming to enhance financial policies and government accounting standards. It also includes organizing hackathons and workshops, supporting student projects, and developing analytical models to strengthen financial transparency.
Additionally, the agreement promotes integration between the two entities through the involvement of academic experts in developing innovative solutions. Ministry of Finance employees will participate in advisory committees to align educational outcomes with labor market needs, fostering the development of qualified national talent in financial analysis and data science.
Regular reviews will be conducted to assess the impact of joint initiatives, ensuring continuous improvement and effective collaboration in building advanced analytical tools for government reporting.
