Abu Dhabi Pension Fund has won the Excellence Award in Management of Pension and Social Security Funds as part of the second cycle of the Sharjah Award in Public Finance (2022-2023), which is held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council, Ruler of Sharjah, and is the first of its kind in the Arab world.
The fund won the award in recognition of its role in serving the community, protecting the interests of citizens, and for its contribution in preserving the rights of citizens and securing their future, as well as for its constant endeavour to provide pension services in accordance with the highest international standards.
The fund was honoured during a grand ceremony held at the Cultural Palace in the emirate of Sharjah.
The award, which is organised in cooperation with the Arab Administrative Development Organization, affiliated to the League of Arab States and the Central Finance Department of the Emirate of Sharjah, included 17 institutional and individual categories (nine institutional categories and eight individual categories). It witnessed wide participation and great competitions from entities and individuals representing 14 Arab countries, including the UAE, Egypt, Jordan, Morocco, Palestine, Tunisia, Sudan, Saudi Arabia, the Sultanate of Oman, the Kingdom of Bahrain, Qatar, Algeria, Syria and Iraq.
The fund stated that the Finance Award in the category of Distinguished Entity in the Management of Pension and Social Security Funds is granted to the entity that is unique in meeting the four main criteria namely: enjoys a positive and motivating leadership that anticipates the financial future under the guidance of wise leaders, enhances readiness for a secured future by adopting successful business models that enhance competitiveness, participates in the continuous development of legislation and policies related to the pension system to achieve social justice and be a driver in smart empowerment and the use of digital solutions to develop services through the use of financial systems and applications.
Other contributing factors include advanced technology in the management of pension funds achieving outstanding results in managing contributions and ensuring financial sustainability through effective financial management and the ability to raise the percentage of customer satisfaction for consecutive years.
His Excellency Salem Al Nuaimi, Managing Director of the Abu Dhabi Pension Fund, expressed his great happiness with the fund's winning of the award, pointing out that it represents a new addition to the achievements of the Ffnd, which has succeeded over the past years in winning excellence awards in various fields, considering that the international awards won by the fund are an affirmation of the position of the UAE and the Emirate of Abu Dhabi among the best regionally and globally in retirement practices.
His Excellency Khalaf Abdulla Rahma Al Hammadi, Director General Pension Affairs at the Abu Dhabi Pension Fund, said that winning the award is the culmination of the fund's efforts to improve and develop services, and formulate innovative plans and projects to be in line with the aspirations of the wise leadership to upgrade government services and to reach the highest international levels.
The award is concerned with empowering the public finance sector to be a successful and sustainable lever for development in the Arab countries. This can be achieved through continuous measurement and evaluation of commitment to standards of excellence in the financial sector at the level of government institutions in the Arab countries, and by enhancing the level of competition among them to achieve the optimal level of performance, practices, and learn from successful financial management experiences in this field.
