Kuwait City: Yusuf Abdulla Alhumood, Undersecretary of Financial Affairs at the Ministry of Finance and National Economy, led the delegation of the Kingdom of Bahrain in the joint annual meetings of Arab financial institutions held in Kuwait.
According to Bahrain News Agency, the meetings included discussions by the Board of Governors of several bodies, including the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation (Dhaman), the Arab Monetary Fund (AMF), the Arab Bank for Economic Development in Africa (BADEA), the Arab Authority for Agricultural Investment and Development (AAAID), the Supervisory Board of the BADER Fund, and the Council of Arab Finance Ministers.
The Undersecretary presented Bahrain's progress in digital transformation in public finance. He highlighted the country's efforts towards comprehensive digital transformation in public financial management, aimed at improving the quality of government services and reinforcing fiscal sustainability.
Alhumood stated that Bahrain has executed numerous strategic initiatives to enhance the management of public financial resources. These initiatives encompass the launch of shared financial services, centralisation of procurement procedures, automation of budget preparation and execution, and adoption of advanced technologies facilitating a fully digital budgeting process.
The meetings also covered a range of financial and economic topics focused on advancing Arab joint action and exploring new opportunities for cooperation among Arab countries. Additionally, participants reviewed the achievements of Arab financial institutions over the past year and their contributions to joint Arab efforts, alongside discussions on recent economic and financial developments in the region.