Under the guidance of His Highness Sheikh Mohamed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and in line with Law no. (5), the Department of Finance, Government of Dubai, was established in 1995.

The mandate of the Department of Finance is to supervise all financial and accounting affairs of the emirate, in addition to issuing consolidated financial statements for the Emirate.

The Department of Finance is responsible for the development of the emirate's general annual budget and its execution in cooperation with all relevant local government departments. Furthermore, the Department of Finance provides liquidity, including transferring sanctioned budgetary allocations to all relevant government departments. It also oversees the preparation and development of tolls, dues and other resources. In addition, the Department of Finance verifies the collection of taxes and the provision of general revenues, while also supervising government banking accounts.