Latest news with #MohamedHadiAlHussaini
Zawya
27-05-2025
- Business
- Zawya
Mansour bin Zayed chairs meeting of EIA Board of Directors
His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Emirates Investment Authority (EIA), chaired EIA's board meeting at Qasr Al Watan, Abu Dhabi. During the meeting, the Board reviewed the Authority's performance for the year 2024 and discussed recent developments related to investment management. The board was also briefed on the agenda items and adopted the appropriate decisions. H.H. Sheikh Mansour bin Zayed praised the positive results achieved by the Emirates Investment Authority in recent years, affirming that these outcomes reflect the Authority's strategic vision and effective management, which have solidified its standing as a leading national investment institution. The meeting was attended by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology; Mohamed Hassan Alsuwaidi, Minister of Investment; Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE); Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), Mohamed Hamad Al Mehairi, Chief Executive Officer of Emirates Investment Authority, and a number of executive directors.
Zawya
27-02-2025
- Business
- Zawya
The UAE participates in the first Finance Ministers and Central Bank Governors meeting under the South African Presidency of the G20
Cape Town, South Africa: The UAE, represented by the UAE Ministry of Finance and the Central Bank of the UAE, participated in the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the South African Presidency of the G20, which was held in Cape Town from 26-27 February to discuss the priorities set forward by the South African Presidency for the Finance Track for 2025. The UAE delegation was headed by His Excellency Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs and included His Excellency 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 UAE Ministry of Finance; and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organizations at the UAE Ministry of Finance. Finance Track The meetings focused on the priorities set by the South African Presidency under its theme 'Solidarity, Equality, Sustainability,' which include strengthening disaster resilience and response, ensuring debt sustainability for low-income countries, mobilizing finance for a just energy transition, and harnessing critical minerals for inclusive growth and sustainable development. These were discussed across topics such as macroeconomic growth, international financial architecture, infrastructure, tax cooperation, health-finance cooperation, financial sector issues and financial inclusion and sustainable finance. During the FMCBG meetings, discussions on the global economic growth outlook aimed to identify risks and foster specific actions to strengthen macroeconomic cooperation. His Excellency the Minister highlighted the challenges of fiscal sustainability constraints which disproportionately affect EMDEs amidst high global debt levels, economic fragmentation, and inflation uncertainty. His Excellency further highlighted the G20's efforts to strengthen MDBs and enhance debt sustainability for EMDEs through measures such as increased knowledge-sharing on capital flows. Growth Prospects Discussions also focused on the development of an investable infrastructure pipeline and the roles of blended finance and de-risking instruments. His Excellency Mohamed Al Hussaini highlighted the alignment of pipelines with national economic growth objectives to attract private sector investment and expand economic impact. His Excellency also expressed the UAE's commitment to strengthening trade corridors globally to enhance cross-border infrastructure and trade connectivity. Bridging funding gaps Regarding effective and inclusive tax cooperation, His Excellency reaffirmed the UAE's commitment to work in tandem with other jurisdictions to foster a more inclusive international tax system. His Excellency underscored the importance of domestic resource mobilization in this effort, emphasizing the need for increased capacity building toward SDG achievement. Similar efforts were also reflected in discussions about joint finance and health cooperation to address financing gaps to strengthen public health institutions and overall global economic resilience against future health emergencies. In discussions on sustainable finance, His Excellency Al Hussaini highlighted the role of boosting investor confidence to unlock additional capital and ensure co-financed success. On the sidelines of the meetings, His Excellency conducted a bilateral meeting with His Excellency Dr. Jörg Kukies, Federal Minister of Finance of Germany, on opportunities to collaborate moving forward in the G20 under the South African Presidency. During the meeting, His Excellency explored promoting additional fiscal cooperation between the UAE and Germany. FOCB Meeting Meanwhile, the UAE participated in the second G20 Finance and Central Bank Deputies (FCBD) meeting under the South African Presidency of the G20, which was held in Cape Town from 24-25 February, to discuss the priorities set forward by the South African Presidency for the Finance Track for 2025. The UAE delegation was represented by His Excellency 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 UAE Ministry of Finance; Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organizations at the Ministry of Finance; and Fares AlKaabi, Senior Manager of International Relations at the Central Bank of the UAE. Members deliberated on key policy agenda items, including development financing, a review of G20 working practices, and sustainable development in EMDEs. BRICS provided discussions on public-private partnerships, tax, and infrastructure alongside many more topics. During the G20 FCBD meetings, the UAE delegation highlighted the use of international trade as an engine for development, debt sustainability measures to expand fiscal space for investment in SDGs, and the inclusive leveraging of technological advances and data monitoring for sustainable development. The delegation also identified key challenges faced by low- and middle-income countries, including poor investment environments, inadequate infrastructure, high debt levels, and elevated capital costs. To address these issues, the UAE advocated for increased multilateral cooperation to boost private sector participation and investment. This year is the UAE's sixth participation since the establishment of the G20. The UAE has participated in previous G20 events and summits as a guest country in Brazil in 2024, India in 2023, Indonesia in 2022, Saudi Arabia in 2020, and France in 2011. BRICS Meeting The UAE also participated in the first BRICS Finance and Central Bank Deputies meeting on 26 February to discuss the priorities of the BRICS Finance Track for 2025 under the Brazilian Presidency. During the BRICS FCBD meeting, the UAE delegation welcomed the priorities identified by the Brazilian Chairmanship and the agenda set forth for the year, highlighting the increased focus on advancing the Sustainable Finance agenda.
Hi Dubai
12-02-2025
- Business
- Hi Dubai
UAE Ministry of Finance Hosts High-Level Discussions at WGS 2025
The UAE Ministry of Finance (MoF) inaugurated the World Government Summit (WGS) 2025 with two high-profile panel discussions focused on multilateral cooperation and economic resilience. Held from February 11 to 13 in Dubai, the summit convened global policymakers, financial experts, and senior officials to explore strategies for fostering economic stability and growth. Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, emphasized the UAE's commitment to strengthening international financial collaboration. 'With the growing global economic challenges, there is a need to reshape multilateral cooperation mechanisms and boost coordination between financial institutions and governments,' he stated. He highlighted the role of fiscal policies, sustainable investments, and financial technologies in ensuring economic resilience. In collaboration with the International Monetary Fund (IMF), the MoF hosted a session titled 'Reimagining the Future of Multilateral Cooperation and the Fund for the Future.' The discussion, featuring Al Hussaini, IMF Managing Director Kristalina Georgieva, and key finance ministers, addressed economic inequality, climate change, and geopolitical challenges. Participants underscored the necessity of innovative financing mechanisms and an expanded global financial safety net to support developing economies. Another session, 'Enhancing Resilience: Shaping the Future of the GCC Economy Amid Regional and Global Challenges,' was co-hosted with the GCC General Secretariat. UAE Minister of Economy Abdullah bin Touq Al Marri, Bahrain's Minister of Finance Sheikh Salman bin Khalifa Al Khalifa, and other key figures examined economic diversification, sustainable trade policies, and public-private partnerships as drivers of regional stability. On February 12, the MoF, in partnership with the Arab Monetary Fund, will lead a discussion on ' The Role of PPPs in Driving Innovation in Social Infrastructure.' Featuring industry leaders, the session will explore how public-private partnerships can enhance critical sectors like healthcare and education, promoting sustainable development and economic innovation. News Source: Emirates News Agency
Emirates 24/7
11-02-2025
- Business
- Emirates 24/7
MoF organises 3 panel discussions at WGS 2025
The Ministry of Finance (MoF) organised two high-level panel discussions on the opening day of the World Government Summit (WGS) 2025, taking place from 11th to 13th February in Dubai. The sessions brought together global policymakers, financial experts, and senior officials to explore strategies for strengthening multilateral cooperation and enhancing the resilience of Gulf economies. The two sessions discussed ways to promote international financial collaboration, address the evolving economic landscape, and identify innovative solutions to global challenges. Participants talked about strategies to develop sustainable financial policies that enhance stability, growth, and economic resilience in an era of rising global uncertainty. Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, emphasised that the UAE is committed to strengthening international cooperation and building a more resilient financial system. 'With the growing global economic challenges, there is a need to reshape multilateral cooperation mechanisms and boost coordination between financial institutions and governments,' he said. 'This summit provides a platform to innovate solutions that support economic stability and inclusive growth.' He added that in light of current geopolitical and economic changes, a comprehensive approach is very much needed to enhance economic resilience, combining effective fiscal policies, sustainable investments, and innovative financial technologies. 'With its ambitious economic strategy, the UAE will continue to play a pivotal role in supporting global efforts, while also enhancing financial governance, providing an attractive investment environment, and utilising modern technology to develop more efficient financial systems,' he said. 'Through this summit, we look forward to exchanging experiences and strengthening cooperation with our global partners. This will further solidify the UAE's position as a leading global hub for financial and economic dialogue.' In collaboration with the International Monetary Fund (IMF), the Ministry of Finance hosted a session titled 'Reimagining the Future of Multilateral Cooperation and the Fund for the Future.' The session featured Mohamed bin Hadi Al Hussaini and Kristalina Georgieva, Managing Director of the IMF, alongside finance ministers, international officials, and economic experts. The session explored the challenges facing the multilateral cooperation system, including rising nationalist and geopolitical trends, climate change, and economic inequality. Participants highlighted the need for innovative financing mechanisms and an expanded global financial safety net to address economic crises and support developing countries. Moderated by Dr. Jihad Azour, Director, Middle East and Central Asia Department, IMF, the session explored topics such as the role of technology in strengthening financial systems, aligning global networks to protect against economic crises, and building sustainable frameworks for debt management in countries with vulnerable economies. The session concluded with recommendations to enhance international cooperation, restructure financial systems for inclusivity, and support developing economies in facing global challenges. Additionally, the Ministry of Finance, in partnership with the GCC General Secretariat, hosted another session titled 'Enhancing Resilience: Shaping the Future of the GCC Economy Amid Regional and Global Challenges.' The session brought together key decision-makers and economic experts to discuss the most pressing economic challenges facing the GCC and explore opportunities for economic resilience and long-term sustainable development. Speakers included Abdullah bin Touq Al Marri, UAE Minister of Economy; Sheikh Salman bin Khalifa Al Khalifa, Bahrain's Minister of Finance and National Economy; Jasem Mohamed Al Budaiwi, Secretary-General of the GCC; and Kristalina Georgieva. During the session, Al Marri outlined the evolving global economic landscape, emphasising the need to adapt to a multipolar economic order. He shed light on the future of trade and supply chains, stressing the importance of building resilient and sustainable systems. Al Marri also provided an overview of 'We the UAE Vision 2031,' which aims to drive economic diversification and innovation, reinforcing the country's status as a global hub for trade and investment. He called for deeper cooperation and integration among GCC countries to unlock shared growth opportunities and advance sustainable economic development across the region. Meanwhile, Sheikh Salman bin Khalifa Al Khalifa emphasised the importance of adopting flexible financial policies to address global disruptions. He outlined lessons learned from managing debt and public spending during times of crisis and economic shocks, highlighting the key role of public-private partnerships in accelerating growth and economic diversification. For his part, Jasem Al Budaiwi discussed opportunities for regional integration as a key driver for enhancing the competitiveness of GCC member states. He emphasised the importance of cooperation in trade policies and infrastructure development to strengthen economic ties across the region. Moreover, Kristalina Georgieva provided a comprehensive analysis of global economic transformations. She discussed how macroeconomic trends including inflation, interest rate dynamics, trade disruptions, and geopolitical tensions are impacting the economies of GCC countries. On the second day of the summit, the Ministry of Finance, in partnership with the Arab Monetary Fund, will host a session titled " The Role of PPPs in Driving Innovation in Social Infrastructure." The discussion will feature a distinguished lineup of speakers, including Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Sharif Salim Al-Olama is the Undersecretary for Energy and Petroleum Affairs in the Ministry of Energy and Infrastructure, Fahad M. Alturki, Director General Chairman of the Board, Arab Monetary Fund, Imad Fakhoury, Global Director for Infrastructure Finance and PPP of World Bank Group and Abdulfattah Sharaf, Chairman of the Board of HSBC Bank Middle East Limited (HBME). The session will explore how public-private partnerships (PPPs) can accelerate the implementation of development strategies in social infrastructure, with a particular focus on key sectors such as healthcare and education. It will highlight how innovation from the private sector can be harnessed to improve the quality of essential services, directly enhancing community well-being. Additionally, the gathering will discuss ways to integrate global best practices, develop successful partnership frameworks, and promote innovation in critical sectors to ensure sustainable development and maximise the impact of collaboration between the public and private sectors. Follow Emirates 24|7 on Google News.
