Latest news with #Takamul
Sharjah 24
10-07-2025
- Business
- Sharjah 24
SFD boosts partnership via workshops for gov accounting students
Honoring participating students At the conclusion of the training program, Waleed Al Sayegh, Director General of the Sharjah Finance Department, welcomed the participating students at the Department's headquarters, in the presence of several department officials and faculty members from the University of Sharjah. He honored the students in recognition of their commitment and excellence during the training period. Financial training center The workshops, which ran for three consecutive weeks, targeted 19 final-year students majoring in Accounting at the College of Business Administration. The SFD's Financial Training Center supervised the practical component of the program, delivered by instructors from various departments within the SFD, ensuring the transfer of hands-on knowledge and skills to prepare students for a highly competent entry into the job market. Laying the foundations for ongoing collaboration with academic institutions to meet future workforce needs On this occasion, Waleed Al Sayegh, Director General of the Sharjah Finance Department, stated: 'This initiative, organized in collaboration with the University of Sharjah, reflects our deep commitment to supporting and empowering students with the tools for success and excellence. It also provides them with the opportunity to closely explore the government accounting systems implemented in the Emirate of Sharjah, enhancing their practical readiness and enabling them to contribute meaningfully to the advancement of the public financial system. We consider this initiative part of our social responsibility to help shape a qualified national generation capable of innovation and elevating the standards of public financial management.' He added: 'Through this program, we aim to establish sustainable cooperation with academic institutions, ensuring integration between theoretical knowledge and practical application, and aligning with future workforce requirements. We will continue to develop similar initiatives that empower and upskill national talent according to the highest standards, supporting Sharjah's vision of leadership in public financial performance and fostering sustainability.' For his part, Dr Mohammad Al Hawari, Vice Dean of the College of Business Administration, expressed his appreciation to the Sharjah Finance Department for this valuable initiative, which reflects a shared commitment to building strategic partnerships with governmental and non-governmental entities. He emphasized that such collaborations enrich students' academic experiences by adding a practical dimension that enhances their knowledge and enables them to apply it professionally in line with international accounting standards. Comprehensive overview of government accounting system in Sharjah The workshops offered an in-depth overview of the practical aspects of Sharjah's government accounting system (Takamul), along with practical case studies and applications that allowed students to understand the mechanisms and best practices in public financial operations. Specialized practical experience to enrich academic learning and complement educational outcomes The Sharjah Finance Department affirmed that this initiative aligns with its strategic vision to support and prepare national talent. It also provides students with an opportunity to engage in specialized practical experiences that enrich their academic learning and complement theoretical education outcomes. The SFD aims to institutionalize this collaboration by offering the course on an annual basis, thereby contributing to supplying the job market with qualified financial professionals.
Leaders
22-06-2025
- Business
- Leaders
Mining in Mauritania: A Leading Sector with Promising Horizons
By: Mokhtar Ould Dahi Mauritania's Ambassador to Saudi Arabia Moktar Ould Dahi Over the past decades, mining has become a critical driver of growth and a key source of employment. In this article, Mokhtar Ould Dahi, Ambassador of Mauritania to Saudi Arabia, explores the sector's current impact and its promising future horizons. Mauritania's Mining Sector The mining sector in Mauritania is classified as a leading and promising sector—leading at present, as evidenced by its contribution of 23% of budgetary revenues, 78% of the country's total export revenues, and 18.9% of the Gross Domestic Product (GDP), as well as providing tens of thousands of direct and indirect job opportunities. It is also a promising and ambitious sector for the future, as confirmed by the mineral map, which indicates 900 mineral occurrence points across the country's vast area of 1.2 million km². Some of these minerals have been found in very large reserves (including Africa's largest iron ore reserve) and are already being produced. The government holds an ambitious investment vision for the mining sector aimed at multiplying and diversifying production. This vision rests on 3 pillars: Increasing the production of clean energy. Conducting precise geological mapping for critical minerals used in the energy transition, with an aim for processing and manufacturing. Developing the necessary infrastructure—roads, ports, and maps that facilitate transport and export—as well as providing water resources for processing, and investing in 'environmentally friendly mining.' Despite confirming 900 mineral occurrences and substantial reserves of various minerals, including: 6 billion tons of gypsum ore 15 billion tons of iron ore (the largest reserve and second-largest producer in Africa) 250 million tons of phosphate 150 million ounces of gold 28 million tons of copper ore 100 million pounds of uranium 400 million tons of black earth Only 4 out of 16 licensed operations are currently active (as of 2025) in production and export of iron, gold, copper, and black earth. In 2024, Mauritania's exports included: 14.3 million tons of iron 620,000 ounces of gold 13 million tons of copper There are four major upcoming projects, including: Two in iron production and export (the 'Aouj' project in partnership with Glencore, and the 'Takamul' project with SABIC of Saudi Arabia) A uranium production project in partnership with Aura Energy of Australia A project for the production and export of phosphate Encouragingly, the other 12 licenses, currently in the testing and confirmation phase, have reached advanced stages and are expected to transition to production and export of minerals like iron, gold, uranium, phosphate, and black earth. Rising Global Interest There is growing international interest in Mauritania's mining sector. The relevant institutional bodies have issued 129 exploration licenses for minerals such as gold, uranium, copper, iron, phosphate, quartz, and chromium. These are still within the customary timeline for exploration procedures, as outlined in the mining code. It is expected that more than four of these will soon transition to exploitation and export. To attract investors, Mauritania's mining code offers competitive and attractive tax incentives compared to other mineral-producing countries. These include: The exploitation license is granted via a Council of Ministers decree, valid for up to 30 years and renewable The state receives 10% of the company's capital for free, and can acquire another 10% through purchase The company must begin exploitation within two years of license issuance The exploiting company is exempt from customs duties, taxes, and the commercial and industrial profit tax for three years from the date of its first shipment Mauritania will host the seventh edition of the 'Mauritanides' event from September 8–10, 2025. This is a well-organized and content-rich forum dedicated to investment opportunities in the mining sector, including lectures and exhibitions, bringing together all relevant stakeholders. I take this opportunity to call on all investors and stakeholders in the mining sector in Saudi Arabia to register and actively participate in this high-level development event. By the grace of Allah, it will lead to the establishment of Mauritanian-Saudi investment partnerships in the extraction and production of minerals in Mauritania. Stable, Resource-Rich Destination for Investment All indicators point to abundant and diverse mineral wealth in Mauritania, alongside encouraging tax incentives, and a business-friendly climate. This is all backed by a stable political and security environment, reinforced by a natural democratic political scene, effective military and security strategies (praised by experts), and government policies focused on social justice and strengthening the rule of law. Related Topics : Khorayef, Silveira Discuss Cooperation Opportunities in Mining Sector Mining Sector Accelerates Saudi Arabia's Bold Economic Vision Bangladesh in Turmoil: Violent Protests Roil the Country, Government Extends Curfew Saudi Arabia to Increase Oil Production to 12.3 mln bpd in 2028 Short link : Post Views: 50
Sharjah 24
26-02-2025
- Business
- Sharjah 24
SFD launches 1st Financial Forum for 2025
Focus on Financial Efficiency Mai Abdullah Sahoh, the Director of Accounts at the Sharjah Central Finance Department, emphasized that the forum aims to improve finances efficiency by engaging in discussions on essential topics concerning digital financial administration. The event focuses on managing costs and enhancing expenses in line with sustainable financial strategies. Furthermore, it addresses monthly financial closures, guaranteeing precise and clear financial reporting among government entities. Promoting Digital Transformation The forum highlighted recent developments in "Takamul," a means of communicating aimed at improving electronic integration between government entities, thereby facilitating the digital transformation of financial operations. This initiative seeks to enhance clarity and accuracy in the management of financial resources within the government sector. Additionally, the forum featured the announcement of the Financial Training Center, an initiative aimed at strengthening the expertise of government financial professionals through specialised training programs aligned with global best practices. The Sharjah Central Finance Department continues its commitment to advancing financial tools and optimising resource management, ensuring long-term financial sustainability and institutional efficiency.
