The Ministry of Finance (MoF) in the UAE has entered into a strategic Memorandum of Understanding (MoU) with the Institute of Management Accountants (IMA) to introduce the Certified Management Accountant (CMA) and Financial and Managerial Accounting Associate (FMAA) certifications.
This MoU is a key component of the Ministry’s ongoing initiatives to empower national professionals with the highest global standards in accounting and financial management.
It supports the Ministry’s ambitious goals aimed at fostering professional excellence within the government financial sector, enabling employees to attain prestigious international certifications that bolster financial sustainability and leadership in federal performance.
Investing in human capital
The signing ceremony for the MoU took place at the Ministry of Finance headquarters in Abu Dhabi, attended by notable figures including Younis Haji AlKhoori, undersecretary of the Ministry of Finance; Mariam Mohammed Hassan Al Amiri, assistant undersecretary of Government Finance Management; Amna Hassan Al Shamsi, director of Financial Policies and Government Accounting Standards; Azza Ali Aljassmi, director of the Government Communications Department; Ahmad Mkhallati, senior director at IMA, Middle East; Amer Abdulhadi Al Ahbabi, president of the IMA Abu Dhabi Chapter and IMA USA Global Board Member; and several specialists from both parties.
AlKhoori emphasized that the new partnership will support the Ministry’s strategy to effect a paradigm shift in the development of national financial talent, enhancing leadership in public finance and sustainable development. The Ministry is committed to investing in human capital, believing that these certifications will cultivate specialized skills that align with the country’s transition toward a knowledge-based, sustainable economy.
He remarked, “Obtaining global professional certifications such as the CMA and FMAA demonstrates the Ministry of Finance’s commitment to raising the skills and professional standards of employees in the federal financial sector, as well as enhancing transparency and efficiency in the management of government resources, in line with international best practices.”
Enhancing adaptability in public finance
AlKhoori also noted that the introduction of these certifications, in partnership with IMA, marks a significant advancement in the federal financial work environment, equipping national professionals with the latest knowledge and technical tools. This initiative is designed to enhance their preparedness to adapt to the swift changes in public finance and financial analysis, while reinforcing the foundations of institutional excellence and professional innovation.
Mike DePrisco, President and CEO of IMA, stated that this collaboration with the Ministry of Finance signifies a landmark achievement in their mutual mission to elevate the management accounting profession on a global scale.
He added, “The UAE has always demonstrated excellence in building a future-ready economy, and by empowering government talent with the CMA and FMAA certifications, the Ministry of Finance is setting a global standard of excellence, accountability, and strategic financial management. We are pleased to collaborate with the Ministry of Finance on this forward-looking initiative aimed at enhancing accounting and finance capabilities.”
Comprehensive framework for cooperation
The MoU seeks to create a comprehensive framework for cooperation between MoF and IMA in the realms of accounting, financial management, and business development, drawing on IMA’s expertise and specialized programs to qualify accountants and financial professionals within the Ministry and throughout federal government entities.
As part of this MoU, advanced training programs leading to the CMA and FMAA certifications will be provided, fostering the development of national professional talent in the financial and accounting sector while reinforcing institutional performance excellence.
The MoU also encompasses collaboration on the exchange of professional insights and consulting regarding international initiatives and trends in business and accounting, promoting the adoption of global best practices and enhancing the UAE’s status as a leading financial center.
Both parties will also collaborate to organize specialized professional events, including conferences, seminars, workshops, forums, and round tables, designed to strengthen ongoing professional development efforts for accounting and financial management professionals nationwide.
The signing of this MoU builds on the successes of the Ministry’s earlier initiatives to nurture national talent, notably qualifying over 145 Emirati employees in collaboration with other international organizations in accounting standards, public finance, and financial sustainability.
