Abu Dhabi: Arab deputy finance ministers convened in Abu Dhabi to deliberate on financial policies, digital transformation in public finance, the adoption of environmental, social, and governance (ESG) standards, and the impact of financial policies on economic growth across the region. The meeting also addressed energy subsidy reforms in Arab countries, focusing on challenges and lessons learned.
According to Emirates News Agency, the event was organized by the Arab Monetary Fund and was attended by Fahad M. Alturki, Ph.D., Director General and Chairman of the Board of the Arab Monetary Fund. Participants included deputy finance ministers, experts from the International Monetary Fund, the World Bank, and the Organisation for Economic Co-operation and Development (OECD). Senior Emirati officials present at the meeting included Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance; Ali Abdullah Sharafi, Assistant Under-Secretary of the International Financial Relationship Sector at the Ministry of Finance; and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations Department at MoF.
The two-day meeting, concluding tomorrow, features seven sessions on regional financial and economic issues and will end with a session discussing the agenda for the 16th Arab Finance Ministers Council meeting. Younis Haji AlKhoori emphasized the annual meeting's role in strengthening cooperation among Arab countries to tackle global economic challenges.
He noted that the meeting enhances coordination among Arab countries, aligning efforts with global changes in digital transformation, financial governance, and sustainable energy planning. Effective cooperation in these areas is seen as essential for bolstering economic stability and paving the way for sustainable growth.
Furthermore, Younis Haji AlKhoori highlighted the exchange of expertise and best practices during the meeting, which aims to improve financial policies and public resource management. Discussions also focused on how digital transformation can enhance the transparency of public finance, guided by directives to strengthen digital infrastructure and develop policies aligned with ESG standards.
Dr. Fahad M. Alturki opened the meeting with a speech underlining the importance of the annual gathering in promoting Arab cooperation and facilitating the exchange of experiences in financial policies. He noted that these meetings provide a platform for addressing shared challenges faced by the Arab region amidst global economic changes. Exchanging expertise reinforces the ability to confront these challenges through collaborative solutions.
Dr. Alturki added that promoting cooperation among Arab countries not only aids in achieving economic integration but also drives sustainable growth across the region. The meetings aim to boost collaboration in improving financial policies, advancing digital transformation initiatives, and strengthening governance within financial institutions.