Latest news with #MohamedAlHussaini
Sharjah 24
20-04-2025
- Business
- Sharjah 24
UAE to participate in 2025 IMF and World Bank Spring meetings
UAE delegation led by Mohamed Al Hussaini The Ministry of Finance and the Central Bank of the UAE (CBUAE) will represent the UAE in the meeting with the delegation being led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. Joining Al Hussaini are Khaled Mohamed Balama, Governor of the Central Bank of the UAE; Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance; Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE; Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision at the CBUAE; and Ali Abdullah Sharafi, Acting Assistant Under-Secretary for International Financial Relations at the Ministry. Several senior financial experts are also accompanying the delegation. Key topics of discussion The meetings are set to discuss global economic priorities, including future fiscal and monetary policies, ways to bolster financial resilience, and promote effective international cooperation. Additionally, the sessions will explore the importance of international cooperation to foster new growth opportunities and adapt to evolving economic conditions. UAE's commitment to international cooperation 'This year's IMF/WBG Spring Meetings offer a strategic platform to coordinate international efforts and strengthen cooperation in tackling global economic and financial challenges,' Al Hussaini said. 'Through our participation, we look forward to contributing significantly to fostering a constructive dialogue on sustainable economic policies that encourage inclusive growth and support the development goals of nations around the world.' He added that the UAE is committed to strengthening partnerships with international financial institutions and maintaining its proactive role in supporting comprehensive development initiatives. 'We firmly believe that coordination and collaboration are key to achieving global economic stability and fulfilling our regional and international responsibilities,' Al Hussaini noted. Global dialogue and engagement opportunities The meetings will offer a unique global platform for open dialogue, bringing together a select group of economic leaders and financial policymakers from around the world to share insights on how to strengthen international cooperation amid the rapidly changing global economic landscape. Key events and panel participation The UAE delegation will be taking part in a series of key events this year, including a ministerial meeting for the Middle East, North Africa, Afghanistan, and Pakistan with the Managing Director of the International Monetary Fund. The delegation will also participate in a closed-door roundtable with MENA Ministers of Finance, the second G20 finance ministers and central bank governors meeting, the International Monetary and Financial Committee plenary session, and the 2nd BRICS Finance and Central Bank Deputies (FCBD) Meeting as well as various discussions covering topics like global economic prospects, development financing, climate action, and digital transformation. UAE Embassy panel for Emirati students In addition, the UAE delegation will host a panel discussion at the UAE Embassy in Washington, bringing together Emirati students studying in the U.S. for a discussion about career opportunities in international financial organisations. This session, titled 'Employment Opportunities in International Financial Organisations', will connect students with potential pathways to exciting careers in global financial institutions.
Khaleej Times
10-02-2025
- Business
- Khaleej Times
UAE minister calls for tax system reform to meet rising expenses
Countries across the Arab region need to review and modernise their tax systems to meet rising expenses and evolving economic structures, said Mohamed Al Hussaini, Minister of State for Financial Affairs for the UAE. Speaking at the World Government Summit (WGS) 2025 during the Arab Fiscal Forum, Al Hussaini emphasised the need for "decisive (tax) reform efforts", improved revenue streams, and policies that promote job creation and economic resilience. Al Hussaini stressed that updating tax systems is important to adapting to structural shifts in Arab economies. 'There is also a need to enhance revenue streams to support rising expenditure. Tax systems must avoid and respond to structural transformations in Arab economies," he explained. Stay up to date with the latest news. Follow KT on WhatsApp Channels. He also underscored the importance of 'creating incentives for young people to work in the private sector'. Additionally, he highlighted governance enhancements and incentives for private-sector employment as key drivers of medium-term growth. The minister also urged Arab nations to leverage Artificial Intelligence (AI) and digitalisation to enhance the efficiency and effectiveness of tax frameworks. 'In the UAE, we have laid solid foundations for government operations that support the country's strategic objectives and development trajectory,' he said. Ensuring sustainability Al Hussaini said that the UAE has undertaken a series of reforms aimed at enhancing expenditure and increasing control and listed some challenges governments in the region are facing. 'Among the challenges that have become apparent are the investment in the high cost of subsidy programs and the establishment of social safety networks,' he said. 'Another economic challenge is the rising public debt which drains resources and hinders the development of progress.' He also said that many economies in the region have faced 'a series of shocks, including those stemming from conflict and climate-related disasters,' and so it was 'vital' for policymakers and authorities to concentrate on 'fostering growth and resilience' while ensuring fiscal sustainability and maintaining low emissions. Year of community Al Hussaini linked these economic discussions to the UAE's broader vision for 2025, designated as the Year of Continuity by President Sheikh Mohamed. 'The first line of defence is to determine unity and cohesion of the community, where the connection between individuals promotes a culture of shared responsibility and drives progress,' he said. 'This vision strives for a thriving, united society that aims towards a sustainable management of resources for future generations.' Last month, the UAE leader encouraged "all those who call the UAE home" to contribute towards improving the community and work 'hand in hand' to strengthen social bonds, foster shared responsibility, and 'unlock potential for inclusive and sustainable growth."
Gulf Business
10-02-2025
- Business
- Gulf Business
World Governments Summit 2025 kicks off in Dubai
Image: WAM/ X The 'Shaping Future Governments' . Day Zero will feature a series of key forums, including the Arab Fiscal Forum, the Arab Meeting for Young Leaders, and the Young Arab Leaders Forum, with wide participation from prominent officials, visionaries, decision-makers, and a host of international organisations. World Governments Summit: More than 30 heads of state in the UAE The 12th edition of the World Governments Summit is seeing record international participation, with over 30 heads of state and government, more than 80 international and regional organisations, and global institutions, alongside 140 government delegations. The event will also host thought leaders and experts who will discuss major global trends in more than 200 interactive sessions featuring over 300 global speakers. Additionally, over 30 ministerial meetings and roundtables will take place, attended by more than 400 ministers. 21 Forums. One Vision. A better future for humanity requires meticulous planning. At the — World Governments Summit (@WorldGovSummit) Among the standout events on 'Day Zero' is the 9th Arab Fiscal Forum, jointly organised by the Arab Monetary Fund (AMF), the International Monetary Fund (IMF), and the Ministry of Finance. This year's forum will focus on designing efficient and equitable fiscal policies to address debt vulnerabilities and future challenges amidst tighter financing constraints. Topics covered will include subsidy reforms, tax administration, and public sector enterprise reforms. The forum's opening session features speakers such as Mohamed Al Hussaini, Minister of State for Financial Affairs in the UAE; Kristalina Georgieva, MD of the Other discussions at the forum, which will be attended by Arab ministers of finance and governors of central banks, will focus on macroeconomic developments, fiscal policy design in the face of mounting debt pressures, fiscal policy and climate resilience, and revamping tax systems for structural economic changes. Image: World Governments Summit Arab Meeting for Young Leaders Also on Day Zero is the Arab Meeting for Young Leaders, a collaborative platform for decision-makers and Arab youth. This meeting emphasizes youth engagement, with involvement at every stage, from preparation to participation. The meeting is hosted in collaboration with the Arab Youth Centre and supported by both local and regional governmental and non-governmental partners. Sessions at the meeting will explore topics such as the Arab Youth Competitiveness Index, The Vision of the League of Arab States, The Art of Etiquette: An Arab Perspective, The Last Drop of Oil: Seizing Opportunities, and Made in the Arab World. Additionally, the Young Arab Leaders Forum will take place on Day Zero, offering a dynamic platform to empower the next generation of Arab innovators and professionals. The forum focuses on fostering entrepreneurship, leadership, and professional growth through mentorship programs, educational initiatives, and insights from prominent Arab leaders. Topics include preparing young leaders for a new world, the economic state of the Arab world, and the role of young leaders in planning and management at senior leadership levels, with a focus on entrepreneurship, sports, arts, culture, and beyond.
Hi Dubai
10-02-2025
- Business
- Hi Dubai
World Governments Summit 2025 Kicks Off in Dubai with Record International Participation
Dubai is set to host the 12th edition of the World Governments Summit (WGS) from February 10 to 13, 2025, under the theme 'Shaping Future Governments.' Day Zero, which begins tomorrow, will feature a series of high-profile forums, including the Arab Fiscal Forum, the Arab Meeting for Young Leaders, and the Young Arab Leaders Forum. The summit is witnessing unprecedented global participation, with over 30 heads of state, 140 government delegations, 80 international and regional organizations, and more than 300 speakers set to participate in over 200 interactive sessions. Notably, 30 ministerial meetings and roundtables will be held, with over 400 ministers in attendance. The Arab Fiscal Forum, co-organized by the Arab Monetary Fund (AMF), the International Monetary Fund (IMF), and the UAE Ministry of Finance, will address key issues such as debt vulnerabilities, fiscal policy reforms, and climate resilience. The forum's opening session will feature notable speakers, including Mohamed Al Hussaini, Kristalina Georgieva, and Dr. Fahad Al Turki. The Arab Meeting for Young Leaders aims to empower Arab youth by fostering collaboration between decision-makers and young leaders. Hosted in partnership with the Arab Youth Centre, the meeting will tackle topics such as Arab youth competitiveness and the opportunities within the region. Additionally, the Young Arab Leaders Forum will focus on leadership, entrepreneurship, and mentorship, preparing the next generation of Arab innovators for the future. Sessions will explore the role of young leaders in various sectors, including business, sports, and culture. WGS 2025 is set to provide a unique platform for shaping the future of governance and leadership in the Arab world and beyond. News Source: Emirates News Agency
Emirates 24/7
10-02-2025
- Business
- Emirates 24/7
Day Zero of World Governments Summit 2025 kicks off tomorrow
Tomorrow, Monday 10th February, marks Day Zero of the World Governments Summit 2025, which takes place in Dubai and runs until 13th February under the theme 'Shaping Future Governments'. Day Zero will feature several key forums, including the Arab Fiscal Forum, the Arab Meeting for Young Leaders and the Young Arab Leaders Forum, amidst wide participation from prominent officials, visionaries, decision makers and a host of international organisations. The 12th edition of the World Governments Summit is seeing record international participation, featuring over 30 heads of state and government, more than 80 international and regional organisations and global institutions, 140 government delegations alongside thought leaders and experts discussing major global trends during more than 200 interactive sessions featuring over 300 global speakers. The Summit will also host over 30 ministerial meetings and roundtables attended by more than 400 ministers. The 9th Arab Fiscal Forum, jointly organised by the Arab Monetary Fund (AMF), the International Monetary Fund (IMF), and the Ministry of Finance, will focus on designing efficient and equitable fiscal policies to address debt vulnerabilities and future challenges amid tighter financing constraints. Key topics include subsidy reforms, tax administration, and public sector enterprise reforms. Speakers at the forum's opening session include Mohamed Al Hussaini, Minister of State for Financial Affairs in the UAE; Kristalina Georgieva, Managing Director of the International Monetary Fund; Dr. Fahad Al Turki, Director-General and Chairman of the Board of the Arab Monetary Fund. Other sessions at the forum, attended by Arab ministers of finance and governors of central banks, will address the Macroeconomic Developments and Implications for Fiscal Position; Options for Fiscal Policy Design in the Face of Mounting Debt Pressures, Fiscal Policy and Climate Resilience, and Revamping Tax Systems for Large Structural Economic Change. Day Zero will also feature the Arab Meeting for Young Leaders, a shared platform for collaboration between decision-makers and Arab youth, that is characterised by its extensive engagement of youth in all phases, including preparation, implementation, attendance, and participation. The meeting is hosted in collaboration with the Arab Youth Centre, and is supported by governmental and non-governmental partners, both local and regional, who believed in the idea and trusted the youth. Sessions at the meeting include Arab Youth Competitiveness Index: Thriving in a Rapidly Changing World, The Vision of the League of Arab States, The Art of Etiquette: An Arab Perspective, The Last Drop of Oil: Seizing Opportunities, Made in the Arab World among others. The Young Arab Leaders Forum also takes place on Day Zero of the WGS 2025. A dynamic platform dedicated to empowering the next generation of Arab innovators and professionals, this forum focuses on fostering entrepreneurship, leadership, and professional growth by leveraging mentorship programmes, educational initiatives, and insights from prominent Arab leaders to prepare youth for the challenges of tomorrow. Sessions at the forum will address topics like preparing young leaders for a new world, and the economic state of the Arab world. It will examine the status of Arab leaderships in entrepreneurship, sport, arts and culture among other fields, while discussing the role of young leaders in planning and management at senior leadership positions. Follow Emirates 24|7 on Google News.
