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Mohammed bin Rashid Issues Dubai Government Debt Law no. (8) of 2022
March 14, 2022
2022 مارس 14

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, issued the Law No. 8 of 2022, regulating the public debt in Dubai. The law stipulates that a corporate unit called the Public Debt Management Office (DMO) to be established in the Department of Finance (DOF), and within its organisational structure.

 

The DMO has several responsibilities, including meeting the government's financing requirements, managing the sovereign debt portfolio, setting strategic objectives and policies, pursuing risks to ensure government financial sustainability, as well as maintaining high levels of transparency to enhance the investor confidence and develop robust relationships with stakeholders.