UAE Participates in Joint Annual Meeting of Arab Financial Institutions and Finance Ministers

UAE, 21 June, 2024 : The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, took part in the Annual Joint Meeting of Arab Financial Institutions under the patronage of Egyptian President Abdel Fattah El-Sisi and in the presence of Prime Minister Dr. Mostafa Madbouly. The UAE delegation also attended the Council of Arab Finance Ministers meeting to discuss enhancing joint Arab work and fostering regional and international partnerships for development projects.

The UAE delegation included Minister of State for Financial Affairs Mohamed Hadi Al Hussaini, Central Bank Governor Khaled Mohamed Balama, Ministry of Finance Undersecretary Younis Haji Al Khoori, Assistant Governor Ebrahim Al Zaabi, Assistant Undersecretary Mariam Mohamed Al Amiri, and Acting Assistant Undersecretary Ali Abdullah Sharafi, along with specialists from the Ministry of Finance and the Central Bank.

The annual meetings covered sessions from various Arab financial institutions, including the Arab Fund for Economic and Social Development and the Arab Monetary Fund. The UAE Ministry of Finance also held a bilateral meeting with the OECD's Centre for Tax Policy and Administration.

The meetings reviewed the operational performance of Arab institutions, approved annual reports and financial statements for 2023, and discussed strategies for enhancing joint Arab work. The Abdlatif Y. Al-Hamad Development Award was presented to the Bahr El-Baqar Water Treatment Plant project.

During the Council of Arab Finance Ministers meeting, Al Hussaini stressed the need for accessible climate financing, support for renewable energy, and emission reductions. He highlighted the UAE's investment in green infrastructure and the launch of the Green Capabilities Global Alliance for Government to promote green skills worldwide. He reiterated commitments made at COP28 and called for coordinated global efforts to address climate change, focusing on renewable energy by 2030.

Source : www.mof.gov.ae