The Department of Finance In Ajman organises the 'Financial Innovation Hackathon'
Ajman: As part of its initiatives for 'UAE Innovates' Month, the Department of Finance in Ajman launched the 'Financial Innovation Hackathon', which will continue from 10 to 13 February 2025, with the participation of representatives from government entities, suppliers, customers, and community members. The event aims to foster a spirit of collective innovation to develop solutions that empower society and support government financial operations.
The hackathon includes brainstorming sessions designed to raise participants' awareness of the concept of innovation and its tools, applying them to develop creative solutions for challenges related to financial procedures and supply processes, in addition to promoting and enhancing the use of electronic payment methods.
His Excellency Marwan Al Ali, Director General of the Department of Finance in Ajman, stressed that 'UAE Innovates' Month serves as an important national platform for strengthening a culture of creativity and innovation across various sectors, contributing to the UAE's vision for a more advanced and prosperous future. He noted that this initiative 'comes within the framework of the department's commitment to promoting innovation in the government financial sector and providing effective and sustainable solutions to the various challenges faced by our partners, customers, and the community in a way that supports sustainable development and enhances the quality of life in the emirate.'
Al Ali added: 'Actively contributing to 'UAE Innovates' Month reflects our dedication to supporting the objectives of The Year of Community by encouraging creative minds to shape a sustainable financial future by presenting ideas and visions that help develop solutions for current and future financial challenges, within a comprehensive partnership between the government, the private sector, community members, and university students. Involving all parties in the hackathon sessions reflects our commitment to developing modern mechanisms that contribute to improving the efficiency of financial work and enhancing the customer experience.'
The hackathon includes four sessions, the first of which brings together employees specialising in financial affairs from government entities to discuss the challenges these departments face, such as difficulties in recording revenues and expenses, delays in the submission of financial reports, and obstacles in revenue and fine collection. The second session highlights the challenges encountered by suppliers and customers, particularly in contract and procurement procedures. The third session of the 'Financial Innovation Hackathon' provides an opportunity for university students to present innovative ideas that encourage the use of the Ajman Payment Wallet and explore diverse ways to promote it. Meanwhile, the fourth session addresses various challenges facing employees in the financial work environment, aiming to develop creative solutions to enhance efficiency.
The Department of Finance in Ajman is dedicated to enhancing the provision of financial services in the emirate by establishing a flexible and integrated financial system that aligns with international best practices. Through proactive and innovative services that meet customer needs, the department ensures the continuous involvement of stakeholders in service development, providing them with a seamless and interconnected experience that enhances their satisfaction and overall happiness.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
an hour ago
- Sharjah 24
Ruwad records 23.9% growth in government contracts in 2024
Improving national economic performance Acting Director Fatima Al Ali stated that this rise underscores RUWAD members' strong position as trusted providers to federal and local government agencies. It also demonstrates a growing trust in the quality of services and goods provided by Emirati entrepreneurs, reinforcing their position in national development and public-private collaborations. Enhancing member competitiveness She stated that RUWAD is dedicated to increasing its members' competitiveness through focused training programs, awareness workshops, and discussions on government procurement methods. Members are also urged to join approved supplier platforms and take part in digital tendering processes. Government partnerships Al Ali also stated that the foundation works with key authorities such as the Ministry of Finance and Sharjah's Central Finance Department to foster a conducive business environment. These collaborations enable increased participation in bids and provide additional incentives and opportunities for enterprises. Expanded reach throughout federal contracts In 2024, 46 RUWAD projects signed 318 contracts with 42 federal agencies. The services provided varied from hospitality and catering to facility management and office operations. Leading contracting bodies included the Sharjah Police Academy, Kalba Municipality, and the Districts Affairs Department. Expansion of supplier base by 250%. By the end of 2024, the number of RUWAD members registered as suppliers with Sharjah's Central Finance Department had grown to 129, up from 14 the previous year, representing a 250% increase. This extension allows more projects to benefit from government procurement privileges. RUWAD members also closed 22 mutual deals as part of the "Tashbeek" initiative, which aims to develop entrepreneurial relationships while also boosting collaboration and service integration.
What's On
5 days ago
- What's On
You can soon pay bills and get paid in Crypto in the UAE
Groceries in Bitcoin, salaries in Ethereum – Crypto is not just for trading anymore… What started as a buzzword is now edging into bill payments, salaries, and government fees. With both public and private sectors backing the shift, crypto in the UAE is going mainstream. Dubai has already announced a pilot project to allow crypto payments for official services, thanks to a deal between Dubai's Department of Finance and Soon, you can settle a traffic fine, grab lunch, and receive your paycheque – all through crypto. That's the near future the UAE is quietly building, as crypto steps out of the trading apps and into everyday life. Government payments? Dubai's Department of Finance has teamed up with to roll out a system that allows residents to pay for government services using cryptocurrency. Think visa fees, licensing, or your parking fine – all payable through digital assets. It's the first sign that crypto here isn't just for investors, it's for everyone. Pay in crypto, get paid in crypto A Dubai court recently upheld a contract that included paying an employee in crypto — half in dirhams, half in digital coins. Industry insiders say this could soon become more common, especially in sectors where companies and workers are already crypto-savvy. Expect to see stablecoins and major tokens like Bitcoin and Ethereum showing up in salary slips. Businesses are already in It's not just the big players. Property firms, fuel stations, and airlines have all started accepting crypto. But what's cooler? Some cafés and small restaurants are onboard too – letting you pay for a latte with your favourite coin. Why now? Stablecoins help with inflation protection and low-fee transfers. Residents use them to send money home, manage savings, or make quick payments. Younger generations are already deep in the crypto game. With solid financial infrastructure and forward-thinking regulations in place, the UAE is creating a space where digital currencies can thrive beyond speculation. The next move Look out for a rollout starting with government portals, then luxury, then your day-to-day. > Sign up for FREE to get exclusive updates that you are interested in
Al Etihad
02-06-2025
- Al Etihad
Department of Finance – Abu Dhabi launches 2026 Budget Cycle to enhance financial sustainability
2 June 2025 15:02 ABU DHABI (ALETIHAD)The Department of Finance – Abu Dhabi (DoF) has organised the 2026 Budget Cycle through a high-level event that brought together more than 450 senior officials representing 65 government entities across the year's cycle marks Abu Dhabi's full transition to the Performance-Based Budgeting (PBB) Model, a pioneering initiative that links government spending directly to entity-level goals, ensuring tangible improvements in service quality and societal well-being. The model also reinforces transparency, data-driven decision-making, and aligns with global best practices as endorsed by the Organisation for Economic Co-operation and Development (OECD).The event featured comprehensive discussions around the key pillars of the 2026 budget, covering plans and strategies to promote financial sector growth in alignment with government priorities. By embracing innovation, collaboration, and transparency, DoF seeks to unify efforts across entities to direct resources toward measurable outcomes that reflect the emirate's strategic annual gathering, which drew notable attendance, included a series of interactive and thematic sessions addressing the latest trends in public finance and global budgeting practices. These insights aim to enhance Abu Dhabi's competitiveness and support its forward-looking transformation toward a more agile and innovative Excellency Buthaina Al Mazrouei, Director General of Government Financial Affairs at DoF, said: 'The 2026 Budget Cycle is a defining moment in our journey to reinforce an integrated financial system that places human well-being at the heart of fiscal policies. This exceptional event builds on the success of the 2025 cycle and reflects the department's critical role in institutionalising financial sustainability.'Guided by the vision of our wise leadership, we continue to shape a financial ecosystem that aligns with Abu Dhabi's development aspirations. By equipping government entities with the tools for smart, data-led, and priority-based planning, we are committed to delivering real, measurable results. Our ambitious vision, strong collaboration, and unwavering commitment to excellence will further position Abu Dhabi as a global hub for fiscal innovation and sustainability.'Participants also showcased a range of innovative initiatives and practices aimed at driving efficient resource allocation, seen as vital to achieving sustainable economic growth and improved quality of life. The event, as a prominent annual milestone, serves as the formal starting point for government entities to begin preparing their budgets for the year ahead, within a cohesive framework aligned with national priorities and sectoral part of this year's Budget Cycle, the Department of Finance – Abu Dhabi also announced the launch of the Budget Excellence Award, an initiative designed to recognise outstanding institutional performance among government partners. The award highlights six core values: collaboration, transparency, innovation, efficiency, impact, and excellence. It celebrates entities that demonstrate best-in-class practices in budget planning and public financial management. This new initiative underscores DoF's commitment to fostering a culture of continuous improvement and strategic alignment in pursuit of sustainable fiscal outcomes. The department has developed an integrated communications plan to accompany the full budget cycle, covering all phases from early planning to implementation follow-up, ensuring message consistency in line with world-class financial governance standards.
