Page 83 - SAMENA Trends - December 2023
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REGULATORY & POLICY UPDATES  SAMENA TRENDS

        TDRA Obtains  the  International  Public  Sector  Accounting  Standards

        Certification (CERT IPSAS)


        The  Telecommunications  and Digital   achievement,  H.E.  Mohammad  Al  Kitbi,   of  finance  by  providing  comprehensive
        Government  Regulatory  Authority  (TDRA),   TDRA Deputy Director General for Support   guidance  on  the  practical  implementation
        represented  by  the  Human  Capital   Services Sector, said: “At TDRA, we adhere   of  International  Public  Sector Accounting
        Department,  obtained  the  International   to the  directives  of our  wise  leadership,   Standards,  reaching  a  mastery stage
        Public Sector Accounting Standards (CERT   recognizing  that  the  pursuit  of  excellence   that  helps  improve  financial  operations
        IPSAS)  certification  from  the  Association   is a continuous journey. Thus, we at TDRA   and  enhance  comprehensive  financial
        of Chartered Certified Accountants (ACCA),   strive  to  instill  a  culture  grounded  in  the   management. The program strives to offer a
        one of the leading and globally recognized   principles  of leadership  and  excellence   hands-on understanding of the application
        international  organizations  in  the  field  of   across  all  operational  domains.  Our   of these standards, globally acknowledged
        accounting. TDRA is the first federal entity   success in this endeavor is attributed to the   as  benchmarks  for  financial  reporting
        to obtain such certificate, which reflects the   robustness  of our  national  workforce, the   excellence.  Objectives  encompass
        advanced  capacities  and  expertise  within   teamwork, and an unwavering commitment   explaining the functions of the International
        TDRA's  workforce  in  the  field  of  finance.   to  realizing  TDRA’s  highest  objectives,  in   Public Sector Accounting Standards Board
        It  also  underscores  TDRA's  leadership,   line with "We the UAE 2031" vision, which   (IPSASB) and detailing the developmental
        its  dedication  to  excellence  in  financial   emphasizes  a  Forward  Ecosystem.”  The   methodology.  Participants  will  gain
        management,  and  its  preparedness  to   International  Public  Sector Accounting   a comprehensive  perspective on the
        establish  new  benchmarks  for  financial   Standards  Program (IPSAS), which  TDRA   widespread utilization of IPSAS across the
        transparency  and  accountability  in  has successfully adopted, aims to enhance   globe.  This  global  perspective  will  enable
        the  public sector. Commenting on this   and  support  employees’  skills  in  the  field   TDRA  to  align  its  financial  procedures
                                                                                 with international best practices, fostering
                                                                                 transparency and credibility. It underscores
                                                                                 TDRA's  dedication to implementing  best
                                                                                 practices  and  upholding  the  utmost
                                                                                 standards  of  financial  integrity  within  the
                                                                                 public sector. It is noteworthy that TDRA's
                                                                                 embrace  of the  "IPSAS"  program  is  part
                                                                                 of its  steadfast  dedication  to fostering  a
                                                                                 culture  of ongoing  learning  and  aligning
                                                                                 its  procedures  with  international  best
                                                                                 practices. This commitment extends to the
                                                                                 integration  of innovation  and  excellence
                                                                                 in  financial  management,  driven  by
                                                                                 TDRA's recognition of the essential role of
                                                                                 financial  practices  in  fulfilling  its  mission
                                                                                 of promoting a prosperous and transparent
                                                                                 digital ecosystem.




        State Selling 25% in Yettel Hungary to PPF, Enabling e& to Take Control Next
        Year



        Hungarian    state-owned   Corvinus   Times, the ministry did not disclose a sale   Czech  Republic)  to  UAE-based  telecoms
        International  Investment  has  signed  price, whilst it underlined that Corvinus will   group e&  (formerly Etisalat  Group) in  a
        agreements  to sell  its  25%  stake  in   continue to hold a 29.5% stake in Yettel’s   deal  expected  to  close  in  or  before  Q1
        mobile  operator  Yettel  Hungary  and  20%   rival  Vodafone  Hungary.  Yettel  Hungary   2024. This deal would already give e& local
        in infrastructure company CETIN Hungary   is  currently  75%  owned  by  PPF  Telecom   majority  stakes  in  PPF’s  Bulgaria,  Serbia
        to   Czech-backed,   Netherlands-based   Group,  part of PPF  Group,  although  the   and Slovakia divisions, and with this week’s
        private  investment  company PPF  Group,   latter  has  agreed  to  sell  a  50%  plus-one-  news  of  the  Corvinus-PPF  agreement  it
        the  Economic  Development  Ministry  share  interest  in  its  Central  and  Eastern   appears that e& can take majority control
        announced. As  reported  by the  Budapest   European telecoms division (excluding the   in Hungary too.


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