​Today, Wednesday,14 May 2025, the Saudi Ministry of Finance welcomed a delegation from the Ministry of Finance of the Sultanate of Oman to its headquarters in Riyadh. The Omani delegation received a review of Saudi Arabia's experience in transitioning from cash-basis accounting to accrual-basis accounting, and reviewed the stages of implementing the initiative to inventory, control, and evaluate government assets.

The meeting was chaired Saudi MoF leaders, represented by His Excellency the Assistant Undersecretary and Head of the Accrual Accounting Center Mr. Abdullah bin Hamad Al-Muhdhal, and a number of employees from the Deputy Ministry for Financial Affairs and Accounts and the Accrual Accounting Center. The Omani delegation included the Advisor to the Minister of Finance for Assets Affairs Eng. Hilal Al Zadjali, Director of the Public-Private Partnership Department Eng. Badour Al Busaidi, Head of the National Assets Register Ms. Shamsa Al Harthi, and Project Specialist Mr. Al Harith Al Ruhaili.

The meeting participants discussed an introduction to the transition to accrual accounting, and a review of the stages of implementing Saudi Arabia's initiative to inventory, control, and evaluate assets, in addition to the receiving a presentation on practical real-world models. The Saudi MoF organizers also highlighted the government entities' real estate asset evaluation initiative, and introduced the technical and advisory capabilities that have contributed to the success of these initiatives.

This meeting comes as part of the Saudi MoF's efforts to enhance bilateral cooperation and exchange experiences with counterparts in friendly countries, in order to achieve integration in developing public finance systems and contribute to strengthening governance and raising the efficiency of government asset management, within the framework of the goals of Saudi Vision 2030.​

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