Page 12 - DOF Annual Report 2018

12 Annual Report 2018 - Department of Finance 01 Historical Background
The Department of Finance was formed during the early 1960s through the establishment of a Revenue and Tax Collection Office within the Abu Dhabi Ruler’s Court. The Office was entrusted with collecting tax revenue for the Emirate. When the UAE’s founding father, HH Sheikh Zayed bin Sultan Al Nahyan, became the ruler of the Abu Dhabi in 1966, a number of Government Entities and Departments where established, including the Department of Finance. HH also headed the Department of Finance and its operations.
During 1971, HH Sheikh Zayed entrusted HH Sheikh Khalifa bin Zayed Al Nahyan, the Crown Prince at the time to head the Department, while transforming and developing work processes in the Government sector in a systematic manner. Government of Abu Dhabi structure was established in 1974, and following that, HE Mohammed Habroush Al Suwaidi was appointed as Chairman of the Department. At that time, the Department acted as the financial arm for the Government of Abu Dhabi and it supported its urban development. Later in 2004, HH Sheikh Mohammed bin Khalifa Al Nahyan was appointed as Chairman of the Department. During his term and precisely in 2006, Law No. 18 concerning the Emirate’s Financial System was issued as well as the Public Policy Agenda of Abu Dhabi, which then served as the outline for Abu Dhabi’s Economic Vision 2030.
In 2010, HE Hamad Al Hurr Al Suwaidi was appointed as the Chairman of the Department of Finance. HE Al Suwaidi went on to manage and develop financial processes at the Government level and in setting financial procedures in line with the Public Policy Agenda and Abu Dhabi’s ambitious plan. In 2016, HE Riyad Abdulrahman Al Mubarak succeeded HE Al Suwaidi and was appointed as Chairman of the Department. HE Al Mubarak continued to further develop the financial system, where the Law No. 1 of 2017 concerning the Financial System of the Government of Abu Dhabi was issued.
Time line of key events
1966
1971
Number of Government Entities and Departments where established, including the Department of Finance and was headed by HH Sheikh Zayed bin Sultan Al Nahyan
HH Sheikh Zayed bin Sultan
Al Nahyan entrusted HH Sheikh Khalifa bin Zayed Al Nahyan, to head the Department
1974
2004
Abu Dhabi Government Structure established with HE Mohammed Habroush Al Suwaidi appointed as Chairman of the Department
HH Sheikh Mohammed bin Khalifa
Al Nahyan appointed as the Chairman of the Department
2006
2010
Law No. 18 concerning the Emirate's Financial System issued together with the Public Policy Agenda of Abu Dhabi
HE Hamad Al Hurr Al Suwaidi appointed as the Chairman of the Department
2016
2017
HE Riyad Abdulrahman Al Mubarak appointed as Chairman of the Department
Law No. 1 concerning the Financial System of the Government of Abu Dhabi