Ministry of Finance and National Economy
The Ministry of Finance and National Economy (MOFNE) is responsible for formulating and implementing the financial policies of the Kingdom of Bahrain within the overall vision of the Bahrain Government. The Ministry prepares the state general budget in coordination with other ministries and public entities in a way that reflects the financial and economic objectives of the Kingdom, particularly regarding improving living standards and increasing levels of economic growth.
MOFNE assures the progress of public investment in compliance with the financial policies of the kingdom. It also manages the public debt and maintains its levels within internationally approved limits. Financial stability is sought through the best allocation of available financial resources.
In order to enhance bilateral relations with other countries in financial and economic areas, the ministry has entered into and is in the process of negotiating a number of bilateral and multilateral agreements to provide a legal framework for these relations. These agreements include, Inter Alia, 'Agreements on the Promotion and Protection of Investments', 'Agreements on the Avoidance of Double Taxation', and 'Free Trade Agreements and Memoranda of Understanding on Financial and Economic Cooperation'.
Our Vision
To achieve optimal financial stability in order to make The Kingdom of Bahrain the center of excellence in Planning, Management, and Financial control and contribute to the sustainability of national resources through the development and follow-up of innovative financial policies.
Teamwork
Work collectively as #TeamBahrain, stressing the importance of integration and joint coordination to overcome various challenges and continue efforts towards achieving the goal.
Innovation and Creativity
Carry out the tasks and accomplish the goals by employing innovation and creativity to achieve the Ministry's vision and support the economic development plans of the Kingdom of Bahrain.
Integrity
Commitment to transparency and fairness in directing government expenditures and optimal use of revenues, to achieve the highest quality standards.
Integration
Enhancing aspects of cooperation and integration between the government sector and the private sector to achieve economic growth.
Strategic Goals
Enhancing strategic financial planning and achieving financial stability and sustainability.
Improving the efficiency and effectiveness of budget execution by developing a supportive environment for innovation and creativity.
Enhancing Bahrain's economic and financial competitiveness.
Develop and strengthen relations with international financial organizations.
Activating the opportunities and advantages of joint Gulf financial and economic integration.
Reviewing and developing financial and economic laws and policies.
Responsibilities
- Formulating and implementing the financial and economic policies of the Kingdom of Bahrain.
- Preparing the Kingdom’s general budget that reflects Bahrain’s financial and economic trends through cooperation with ministries and government agencies.
- Managing public debt and maintaining it at prudent and internationally accepted levels.
- Enhancing financial stability through the optimal use of available financial resources.
- Monitoring the international priority reports and indicators that have an impact on the Kingdom’s competitiveness.
