Maktoum bin Mohammed Reviews Ministry of Finance 2024 Report
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, reviewed the Ministry of Finance's 2024 annual report, underscoring the UAE's strong financial performance, strategic initiatives, and global role in economic leadership.
The report, titled 'Financial Sustainability and Global Leadership,' was presented during a meeting at the ministry's Dubai office.
The report details the ministry's achievements in fiscal management, innovative financing, and national economic development throughout 2024. It highlights the success of government-issued dirham-denominated Treasury bonds and Islamic Sukuk programmes, which together reinforced the UAE's financial liquidity and market confidence.
Sheikh Maktoum emphasized the UAE's resilience amid rapid global economic changes, crediting the country's forward-looking leadership and adaptive policies for its stability and growth. The ministry's efforts have strengthened fiscal sustainability while advancing the UAE's reputation as a secure investment hub, supported by consistent sovereign credit ratings from agencies like Fitch and Moody's.
The ministry actively engaged on the international stage, contributing to G20, BRICS, IMF, and World Bank discussions, shaping global financial policy and promoting sustainable development. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, stressed the ministry's commitment to innovation, transparency, and digital transformation aligned with national visions such as UAE Centennial 2071 and Digital Government Strategy 2025.
Key legislative advancements in 2024 included updated anti-money laundering laws, tax reforms, and policies on asset management, all aimed at enhancing efficiency and compliance. The ministry also expanded international agreements, with 146 double taxation avoidance treaties and 116 investment protection agreements, boosting global competitiveness.
Looking ahead, the Ministry of Finance plans to deepen international partnerships, embrace cutting-edge financial technologies, and pursue sustainable revenue strategies to uphold the UAE's position as a leading global financial and investment hub through 2031 and beyond.
News Source: Emirates News Agency
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