Ministry Of Finance Participates In Joint Annual Meetings Of Arab Financial Institutions

(MENAFN- Mid-East Info)

Exploring the visions of Arab financial institutions and their role in financing development and strengthening economic coordination

Discussing ways to promote joint Arab financial cooperation in light of current regional and global developments

H.E. Mohamed bin Hadi Al Hussaini:

We aim to overcome current growth challenges and move towards a strong recovery

Our priority is to strengthen investment in infrastructure, develop supply chains, and advance the digital economy

Abu Dhabi, UAE:

The Ministry of Finance has taken part in the joint annual meetings of Arab financial institutions, where H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, delivered the keynote address at the opening session, reaffirming the UAE's strategic vision to strengthen financial and institutional cooperation.

The Ministry's delegation included H.E. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; H.E. Mariam Mohammed Al Amiri, Assistant Undersecretary for Government Financial Management Sector; and H.E. Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations, along with a number of specialists and officials from the Ministry.

The meetings addressed a number of key topics, including the future of Arab financial cooperation, the progress of Arab financial institutions, and agenda items discussed in light of evolving regional and global economic and financial developments.

The event featured several high-level sessions, including the opening session of Arab financial institutions; the 55th meeting of the Board of Governors of the Arab Fund for Economic and Social Development; the 53rd session of the Board of Shareholders of the Arab Investment and Export Credit Guarantee Corporation; the 49th meeting of the Board of Governors of the Arab Monetary Fund; the 50th annual meeting of the Board of Governors of the Arab Bank for Economic Development in Africa; and the 50th meeting of the Board of Shareholders of the Arab Authority for Agricultural Investment and Development.

Development priorities:

In his keynote address, H.E. Mohamed bin Hadi Al Hussaini emphasised the UAE's commitment to maintaining Arab coordination on priority financial issues and strengthening dialogue among countries and relevant institutions, particularly in light of ongoing regional developments.

Al Hussaini noted that the current phase requires more flexible financial tools and stronger integration between economic policies, enabling Arab countries to manage challenges more effectively and direct resources towards development priorities that deliver sustainable impact across economies and societies.

He highlighted the need to prepare for changing growth dynamics, noting that the world is facing compounding challenges affecting supply chains, increasing production costs and placing pressure on food security.

The Minister emphasised that the UAE firmly believes in the importance of institutional Arab cooperation built on governance, efficiency, and knowledge exchange positioning it as a key pillar for promoting the financial system's readiness by stimulating investment in strategic sectors, particularly infrastructure, supply chain development and the digital economy.

He also highlighted that the meetings provide an important platform to review the financial performance of Arab institutions, approve their financial statements, and discuss their future directions, strengthening confidence in their developmental role and reinforcing economic cooperation across Arab countries.

During the meetings, annual reports were reviewed and financial statements of Arab financial institutions were approved. Participants also explored institutional performance and achievements and discussed agenda items aimed at enhancing their role in financing development and bolstering financial and economic cooperation among Arab countries.

The meeting of the Board of Governors of the Arab Monetary Fund also addressed several agenda items, including the election of the Chair and Vice-Chair of the Board of Governors for the 50th annual session.

Towards more integrated policies:

The discussions also touched on a number of issues related to financial stability and the role of Arab financial institutions in supporting development efforts, amid regional and global economic and geopolitical challenges that require more integrated and flexible policy approaches.

The meetings were concluded with participants stressing the importance of further developing mechanisms of Arab institutional cooperation and ensuring financial institutions are better prepared to respond to changing economic and financial conditions, while continuing to support development priorities across Arab countries and drive more sustainable growth across the region.

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