UAE to participate in the ‘Joint Annual Meeting of Arab Financial Institutions’ and the seventh meeting of the ‘Council of Arab Ministers of Finance’ in Bahrain

The UAE, represented by the Ministry of Finance (MoF), will participate in the Joint Annual Meeting of the Arab Financial Institutions, which will be held in Bahrain on 5-6 April, 2016.

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, will head the UAE delegation, which includes Mubarak Rashid Khamis Al Mansouri, UAE Central Bank Governor, Younis Haji Al Khoori, Undersecretary of MoF and a number of experts and representatives from the Ministry and the UAE Central Bank.

The meetings will discuss a number of topics including the annual performance reports of the Arab Financial Institutions, their plans for the current year, as well as reviewing and auditing the financial reports for the year ended December 31, 2015. The meetings will also approve the institutions’ balance sheets, income and expenditure accounts, appoint auditors for the financial year 2016, and discuss the institutions future plans, activities and programmes.

The UAE delegation will participate in all scheduled meetings including the seventh ordinary session of the Council of Arab Ministers of Finance, the 45th meeting of the Board of Governors of the Arab Fund for Economic and Social Development, the 43rd session of the Arab Investment and Export Credit Guarantee Corporation (DHAMAN), the 39th Annual Meeting of the Board of Governors of the Arab Monetary Fund (AMF), the 41st meeting of the Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), and the 40th meeting of the shareholders council of the Arab Authority for Agricultural Investment and Development (AAAID).

Commenting on these meetings, Al Tayer stressed UAE’s commitment to participate in similar meetings due to their position as a specialised platform in the Arab region that aims to discuss financial and economic plans, and create future strategies to support development in Arab countries. He also stressed UAE’s commitment to the foundations of joint Arab financial work implemented by Arab financial institutions, and its pursuit to expand the network of partnerships in different fields.

Al Tayer will also head the AAAID meeting. The Authority is considered an important investment institution established to provide highest level of basic food and raise the exchange of food supplies between Arab countries.

UAE hosted last January the first annual undersecretaries of Arab Ministries of Finance’s, which was organised by MoF in collaboration with AMF. The meeting discussed policies and tax reforms in Arab countries, the latest updates on the preparations of the forthcoming Arab Fiscal Forum as well as preparations of the Council of the Arab Ministers of Finance meeting in Bahrain.

Source:WAM