Latest news with #MohamedBinHadiAlHussaini
Gulf Today
17-07-2025
- Business
- Gulf Today
UAE participates in 3rd G20 Finance Ministers and Central Bank Governors meeting in South Africa
The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, is participating in the 3rd meeting of G20 Finance Ministers and Central Bank Governors (FMCBG), held under the presidency of South Africa for the year 2025. The meeting took place in the city of Durban, bringing together representatives of G20 member states, invited countries, and international organisations. Led by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, the UAE delegation featured 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; and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance. The meeting is set to explore the progress made on the 2025 priorities set by the South African presidency of the G20. It will conclude with the adoption of the official communiqué, which the UAE contributed to through working group comments and participation in Deputy-level drafting meetings. The discussions cover a wide range of topics, including the global macroeconomic outlook, international financial architecture, infrastructure development, international taxation, impediments to growth and development in Africa, sustainable finance, financial sector issues and financial inclusion. Mohamed Bin Hadi Al Hussaini stated that the 3rd G20 Finance Ministers and Central Bank Governors Meeting provided a strategic platform for strengthening international coordination on global economic and financial issues as well as for advancing joint efforts to achieve economic stability and support sustainable development. He noted that the UAE's participation aimed to support the Group's global objectives and contribute actively to the development of international economic and financial policies. He emphasised the importance of adopting effective policies that ensure macroeconomic stability, including targeted fiscal support, improved institutional quality, and enhanced labour market efficiency. He stressed that the UAE is committed to strengthening the international finance structure, supporting emerging markets and developing economies (EMDEs .(This, he noted, can be achieved by reducing investment risks, mobilising private capital, providing targeted financial support, strengthening local markets, advancing structural reforms, and fostering international cooperation, efforts that collectively enhance global financial stability. Al Hussaini added that the UAE continues to pursue proactive financial policies to reinforce this approach, further contributing to long-term sustainable development. Al Hussaini welcomed the progress made on international tax reform through the BEPS Action Plan, highlighting the UAE's commitment to building fair and sustainable tax systems through the country's involvement in the UN Framework Convention on International Tax Cooperation. The Minister also underscored the need to boost private sector participation in infrastructure, improve access to affordable capital through more inclusive financial markets, and advance governance and institutional capacity, highlighting these as key policy priorities to drive growth and development in Africa. Al Hussaini affirmed that policy coherence, institutional capacity, and reliable climate data are essential to overcoming barriers to sustainable finance, highlighting the UAE's experience in addressing insurance protection gaps through climate risk assessments and premium pricing frameworks and collaborative approach among financial regulators. On the sidelines of the G20 FMCBG meetings, the UAE attended the G20 Finance and Central Bank Deputies meetings on 14-16 July to discuss the statement of the G20 FMCBG. Discussions also covered recent multilateral development bank developments, pandemic response financing, growth and development in Africa, and additional communiqué drafting sessions of the G20. The UAE is taking part in the G20's activities 2025, which will conclude with the Leaders' Summit later this year. This marks the country's sixth participation in the G20 Summit process, following previous invitations as a guest country in France (2011), Saudi Arabia (2020), Indonesia (2022), India (2023), and Brazil (2024). WAM
Zawya
15-07-2025
- Business
- Zawya
Board of Directors of the Financial Stability Council holds first meeting of 2025
Abu Dhabi: The Board of Directors of the Financial Stability Council held its first meeting of 2025 virtually, chaired by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. The meeting was attended by Board members, including H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE); HE. Mohamed Ali AL Shorafa Al Hammadi, Chairman of the Securities and Commodities Authority; H.E. Ahmed Jasim Alzaabi, Chairman of the Abu Dhabi Global Market; Mr. Fadhel Al Ali, Chairman of Dubai Financial Services Authority; H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance; and H.E. Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the CBUAE. The Board reviewed the topics on the meeting's agenda and the progress of implementing decisions and directives issued by the Board, as well as reports from the relevant financial regulatory authorities concerning financial stability, developments of the local and global financial system, and the status of financial markets in light of current conditions. The Board members also discussed the Financial Stability Council's work programme for 2025–2026, during which a decision was adopted to establish a Technical Advisory Committee responsible for overseeing technical matters related to financial stability. In addition, the formation of three working groups was approved: The Digital Innovation Working Group, mandated to monitor market developments, assess risks, and provide policy recommendations aimed at safeguarding financial stability, while preserving the gains of digital innovation. The Non-Bank Financial Intermediation Working Group, tasked with conducting a comprehensive review of the non-bank financial intermediation sector to identify and study the current situation, assess systemic risks, and identify regulatory opportunities. The Data Development Working Group, responsible for reviewing data management practices, providing recommendations, and expanding the scope of data coverage related to financial stability.
Arab News
09-07-2025
- Business
- Arab News
Pakistan eyes UAE's digitalization model to boost public finance reforms
ISLAMABAD: Pakistan's State Minister for Finance Bilal Azhar Kayani met his UAE counterpart Mohamed Bin Hadi Al Hussaini on Wednesday, stressing the importance of learning from the Gulf country's digitalization model to promote e-commerce and macroeconomic stability, the Pakistan embassy in Abu Dhabi said. Kayani is leading a senior delegation of Pakistani officials who arrived in the UAE this week to participate in a two-day experience exchange program aimed at learning from the UAE's governance and public sector innovation models. The program, running from July 8–9, includes sessions with various UAE ministries and authorities and focuses on innovative approaches to public service delivery, competitiveness, and institutional reform. The initiative is in line with Islamabad's desire to modernize its public sector and strengthen economic cooperation with the Gulf nation. 'Minister Kayani also outlined Pakistan's reform agenda to modernize public sector finance and emphasized the importance of learning from the UAE's digitalization model,' the Pakistani embassy said about Kayani's meeting with Al Hussaini. Kayani expressed Pakistan's appreciation for the UAE's continued financial support, the statement said, recognizing it played a vital role in maintaining the country's economic stability. The two sides held discussions on key aspects of fiscal management, including budgeting practices, public finance oversight and tax policy reforms, the Pakistan embassy in Abu Dhabi said. 'Both ministers shared insights from their respective national experiences, identifying common challenges and opportunities to strengthen institutional capacity and improve governance frameworks,' it said. Kayani said Pakistan's reform agenda, spearheaded by Prime Minister Shehbaz Sharif, was focused on e-commerce, digitization and sustained macroeconomic stability. 'He emphasized that Pakistan remains committed to deepening structural reforms, ensuring fiscal responsibility, and promoting transparency and good governance as key pillars of long-term economic resilience,' the statement said. The two sides also reflected on the memorandum of understanding (MoU) signed between Pakistan's Planning Ministry and the UAE's Cabinet Affairs ministry on June 16, 2025. The MoU reinforces the shared commitment of both governments to modernize governance, build institutional capacity, and develop future-ready public administration systems. Islamabad considers UAE a vital economic ally as it is Pakistan's third-largest trading partner after China and the United States. The Gulf country is also home to over 1.8 million Pakistani expatriates and is the highest source of foreign remittances for Pakistan after Saudi Arabia.
Zawya
07-07-2025
- Business
- Zawya
UAE participates in the 10th annual meeting of the Board of Governors of the New Development Bank in Brazil
Deliberations on Board of Governors affairs and exchange of knowledge among member countries H.E. Mohamed bin Hadi Al Hussaini: Expanding membership strengthens development partnerships across the Global South The UAE supports BRICS priorities and seeks to broaden collaboration with its partners Rio de Janeiro, Brazil: The United Arab Emirates, represented by the Ministry of Finance, participated in the 10th Annual Meeting of the Board of Governors of the New Development Bank (NDB) of the BRICS group, held on 4–5 July in Rio de Janeiro, Brazil. The UAE delegation included Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance; Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations at the Ministry of Finance and a Member of the NDB Board of Directors; and Hamad Issa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs. The meeting focused on three key objectives: reviewing the progress made by the New Development Bank since its inception; discussing future steps to enhance its performance; and deliberating Board of Governors affairs alongside knowledge exchange among member countries. Enhancing Partnerships H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said: 'The UAE's accession to BRICS opens new avenues for cooperation with the Bank, particularly through the development of strategic partnerships with development institutions and public and private sector stakeholders. These efforts will contribute to achieving sustainable growth among member states. The expansion of the Bank's membership is a clear sign of its rising international stature. As the Bank marks its tenth anniversary, this moment presents an opportunity to evaluate its achievements and reflect on its growing global role.' H.E. Al Hussaini also highlighted the Bank's success in diversifying its financing tools, particularly through local currency lending, and its efforts to enhance private sector participation and broaden the funding base for countries across the Global South. He noted that the admission of new members marks an important step in supporting the Bank's mission to promote better representation of emerging economies in the global development landscape. Supporting BRICS Priorities H.E. Al Hussaini affirmed that since joining BRICS, the UAE has remained committed to supporting the group's priorities and expanding cooperation with its partners. He emphasised that the New Development Bank provides an effective platform to develop strategic partnerships that contribute to inclusive and sustainable economic growth across all member states. The 10th Annual Meeting of the NDB was held in the presence of H.E. Dilma Rousseff, President of the New Development Bank, alongside members of the Bank's Board of Governors. The programme featured a high-level opening session attended by senior officials from member countries, followed by a seminar titled 'Building a Leading Development Finance Institution for the Global South.' The second day of the meeting was dedicated to the Bank's formal Board of Governors session. The New Development Bank was established by BRICS countries following an agreement at the Sixth BRICS Summit held in Fortaleza, Brazil, in 2014. The Bank is headquartered in Shanghai, China, with regional offices in South Africa and India. Its mandate is to mobilise resources through loans, guarantees, and equity to finance infrastructure and sustainable development projects in BRICS countries, other emerging markets, and developing economies. It complements the efforts of multilateral development finance institutions and contributes to driving strong, sustainable, and balanced global growth. The Bank focuses on key areas such as infrastructure and sustainability. Since its inception, the NDB has approved funding for more than 120 projects with a total value of around USD 39 billion, covering sectors such as transport, water and sanitation, digital and social infrastructure, and clean energy.
Gulf Today
06-07-2025
- Business
- Gulf Today
BRICS offers an opportunity to enhance global economic governance, says UAE
The United Arab Emirates, represented by the Ministry of Finance and the Central Bank of the UAE, participated in BRICS Finance Ministers and Central Bank Governors Meeting held in Rio de Janeiro, Brazil, under the 2025 presidency of Brazil. The UAE delegation was led by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, and included Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE; Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance; Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations at the Ministry of Finance; and Hamad Issa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs. The meeting agenda featured three main sessions: one focused on finance ministries, another on central banks, and a joint session that explored the global economic outlook and the role of BRICS in enhancing international economic governance. Additional topics included climate finance and coordination of economic policies. Mohamed Bin Hadi Al Hussaini stressed during his intervention that the UAE's participation in BRICS stems from its commitment to strengthening international dialogue on the future of the global financial system and developing multilateral cooperation frameworks to address urgent development challenges. 'We are committed to strengthening dialogue on the future of the global financial system and developing multilateral cooperation frameworks to address development challenges.' Al Hussaini added: 'We believe that constructive partnerships among emerging and developing economies, through platforms such as BRICS, offer an important opportunity to enhance global economic governance, expand access to innovative financing, and support long-term financial stability. We also stress the importance of reinforcing financial and monetary coordination among member states to ensure more inclusive and sustainable growth.' He emphasised that the UAE's contribution to drafting the joint communiqué reflects its active commitment to collaborative efforts within BRICS, aimed at promoting shared interests and aligning with member countries' aspirations for a more balanced and cooperative global economy. The UAE officially joined BRICS in January 2024, following the ratification of its membership request by the group's five founding countries: the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China, and the Republic of South Africa. As a BRICS member, the UAE aims to deepen economic cooperation and partnerships with fellow member states, reinforcing its role as a global economic hub and multilateral partner. The UAE also joined the BRICS New Development Bank in October 2021. Established in 2015, the Bank mobilises resources for infrastructure and sustainable development projects in BRICS nations, as well as in other emerging and developing economies. WAM
