The Procurement and Contracts Management
The Procurement and Contracts Management Department is the single point of contact for all procurement activities within the CBUAE, setting the overall strategy regarding how purchases should be made, as well as strategically tendering on behalf of CBUAE.
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E-Procurement System
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Be a world-class department for procurement services and contract management, by creating value and strategic thinking, efficient & effective processes, technology driven system, integrated and exceptional service for CBUAE’s departments.
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Establish strategic thinking in all procurement efforts; resulting in responsible stewardship of procurement cycle processes, departments-focused services, innovative suppliers, streamlining of business processes while maintaining CBUAE compliance, with sustainability and diversity woven into everything we do.
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Plan, organize, and provide CBUAE's needs of all purchases and services in appropriate quantities, right on time, at the right price, of appropriate quality, from our approved partners according to CBUAE’s policies and procedures.
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Inclusiveness and diversity through engaging local and foreign suppliers.
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Integrity and transparency through ethical behavior, compliance with stated practices and policies, and communication of our goals and results through issuing monthly reports about the performance of General Procurement Department.
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Effective stewardship through ongoing financial goal setting to deliver value, emphasizing vendors, and operating in a manner which supports attainment of the CBUAE’s objectives.
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Implementing newly designed state of art Procurement System platform to perform all Procurement Process “providing purchases from qualified vendors”.
E-Procurement System
About the System
E-Procurement is a major component of e-transactions between organizations and suppliers. It improves the relationship between the buyer and the supplier and enhances the internal process of both, in addition to providing significant savings in operational costs, thereby leading to maximizing their value.
Benefits of the e-Procurement System
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When switching to e-procurement and using E-Systems to manage purchases with a market for companies, it will be easy to find hundreds of vendors, compare them and choose the best of them to manage the order. All of that is online.
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Reduce average cycle time of purchasing process from 30 to 20 days for tendering cycle time (PR - RFQ – PO) (more than AED20K and less than AED200K).
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Through advanced analytics, data is collected, refined and classified to increase the vision of spending and allow for better spending analysis.
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Reduce average cycle time of purchasing process from 45 to 35 days for tendering cycle time (PR- RFP – Contract) (more that AED200K and above).
Type of vendors who can register in the e-Procurement system
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MSME / SME: Micro, Small and Medium Enterprises
Entrepreneurs registered in the UAE as per the guidelines of National Program for Small and Medium Enterprises as defined by the Ministry of Economy.
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Domestic Companies
Companies that are located and provide goods and/or services in the UAE.
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International Companies
Companies located outside of the UAE and without a branch in the UAE.
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Financial Counterparty
Any foreign entity (Non-UAE entity or a free zone entity) with whom CBUAE engages in financial transactions for the purpose of managing its foreign reserves or conducting its operations including correspondent banks, broker dealers/ market makers, fund managers, clearing houses and triparty agents.
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Online Suppliers
Suppliers providing their goods and services exclusively online, such as Subscriptions.
FAQs
- Register through the website.
- Provide basic Supplier details on the e-Procurement System.
- Upload relevant documents based on the Supplier type.
- Accept Terms & Conditions.
- The Central Bank will notify the supplier via email on the approval or rejection of the registration request.
- Required documents shall vary as per respective supplier types.
- The supplier shall be required to upload respective documents during the registration process on the e-Procurement System.
- For registration related enquiries, please contact [email protected]
- For any other information, please contact [email protected]
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Last updated on: Friday 01 September 2023
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