Abu Dhabi, 08 April 2018: As part of its continuous efforts to strengthen Arab economic and financial cooperation and its commitment to support sustainable development in the Arab world, the Ministry of Finance (MoF) is participating in the joint meeting ofArab Financial Institutions, which will take place in Jordan in April. The meetings will be attended by the Ministers of Finance, Governors of Arab Central Banks, a number of financial officials in Arab countries, representatives of Arab and international financial institutions, and financial specialists in the region.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, will head the UAE delegation, which includes HE Mubarak Rashed Al Mansouri, UAE Central Bank Governor, HE Younis Haji Al Khoori, Undersecretary of MoF, and a number of experts and specialists in the Arab financial sector at the Ministry and the Central Bank.
HE Obaid Humaid Al Tayer stressed the importance of the joint meeting of Arab Financial Institutions due to their position as a leading platform in the Arab worldwhich provides Arab financial leaders with an opportunity to discuss mutual financial and economic. HE said: “These meetings provide an opportunity to discussand exchange experiences between Arab countries to establish a common structure that promotes economic and financial cooperation and supports the process of Arab cooperation.”
MoF will also participate in the Ninth Ordinary Session of the Council of Arab Ministers of Finance. The session will discuss a number of key issues of mutualinterests, including a paper by the International Monetary Fund (IMF)on reforming rent bills in Arab countries, and a paper by the World Bank Group (WBG) on enhancing initiatives to develop public and private sector partnerships in Arab countries. The session will also discuss the AMF paper titled “Subsidy Policies in Arab countries” , a paper on the international standards of exchange of financial information issued by the Organisation for Economic Cooperation and Development (OECD) and a report on the draft of the Arab Regional Payment System (ARPS) for intra Arab trade payment settlements.
In addition to the Arab Financial Institutions meeting, the delegation will participate in the 42nd Annual Meeting of the AMF Board of Governors and the 42nd Annual Meeting of the Board of Shareholders of Arab Authority for Agricultural and Development. They will also take part in the 45th session of the Arab Investment and Export Credit Guarantee Corporation (DHAMAN), the 43rd meeting of the Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), and the 47th annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development.