Dubai PR Network, Online Press Release from Dubai and Middle East
Business, Banking and Investments(Banking & Investments)
Filter PR by

UAE Participates in BRICS' Finance Ministers and Central Bank Governors Meeting

UAE Participates in BRICS' Finance Ministers and Central Bank Governors Meeting

Discussing international monetary policy and the implementation and development of multilateral financing for infrastructure.

São Paulo, Brazil: 28 February 2024 – The United Arab Emirates, represented by the UAE Ministry of Finance and the Central Bank of the UAE, participated in the first BRICS Finance Ministers and Central Bank Governors meeting held on February 27 in São Paulo.

The UAE delegation included His Excellency Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, His Excellency Ebrahim Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE, His Excellency Ali Abdullah Sharafi, Assistant Undersecretary of the International Financial Relationship Sector at the UAE Ministry of Finance, and Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations Department at the UAE Ministry of Finance.

Commenting on the sidelines of the UAE’s participation, His Excellency Mohamed Hadi Al Hussaini emphasised the importance of the first meeting of 2024 under the Russian presidency of the BRICS group. He highlighted the aspirations of the UAE, which is a global hub for trade and economic development, to play an active role within the group. He noted that BRICS has been developing its role since the beginning of the year, following the addition of six new countries, including the UAE. This gives BRICS a strong push towards enhancing its position in achieving the group’s goals and strengthening its role in international cooperation towards sustainable development.

His Excellency said: “We collaborate with the BRICS nations to establish sustainable development policies, effective financing solutions, and an advanced digital infrastructure. We also enhance cooperation across various business sectors between emerging and developing economies, establish governance frameworks on a global level, and exchange expertise in infrastructure financing in partnership between the public and private sectors. This contributes to the promotion of international cooperation and the coordination of financial and economic policies to support stability, development, prosperity, and benefits the world’s nations.”

He added: “We look forward to more fruitful collaboration among the group’s nations, which are increasing in importance and role in international affairs by seeking collective solutions to the most pressing challenges of our time.”

His Excellency reiterated the importance of the discussions at the meeting regarding the financial track priorities framework of the BRICS group, exchanging views on several significant issues, including the development of monetary and financial systems, potential methods for financing, implementing, and developing infrastructure, and the role of multilateral financing in increasing the attractiveness of infrastructure investment projects.

The United Arab Emirates is a strategic partner of the BRICS group, having participated in the Friends of BRICS forum in June 2023 in Cape Town, South Africa, convened as part of the BRICS Foreign Ministers Meeting. The UAE officially joined the BRICS group after a successful application ratified by the five founding nations. In October 2021, the UAE also joined the BRICS’ New Development Bank, established in 2015 mobilise resources for infrastructure and sustainable development projects in emerging markets, developing countries, and BRICS nations.

His Excellency Mohammed Hadi Al Hussaini represents the UAE on the Board of Governors of the New Development Bank as a governor, and His Excellency Younis Haji Al Khoori, Undersecretary of the UAE Ministry of Finance, as an alternate governor. Thuraiya Hamid Alhashmi is a member of the bank’s Board of Directors.

Posted by : Editorial Team
Viewed 8307 times
PR Category : Banking & Investments
Posted on : Thursday, February 29, 2024  9:35:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Stellantis Middle East and Africa Reports Strong 2023 Perfo...
Next Story : NBF's new Ramadan campaign provides new financing opportunit...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Tokyo E-prix Winner Max Gunther Eager to Challenge for Formula E Title [23030-Views]
Watches & Wonders 2024 Unico: Hublot's Manufacture Calibre [22046-Views]
Formula E to Use Latest Sustainable Tech to Power its Events Worldwide [21316-Views]
Bremont introduces a new generation of its Supermarine diving watch series [18823-Views]
Malabar Gold & Diamonds unveils exciting offers ahead of the long Eid Holidays [16072-Views]
Make your Vishukkani last forever Tanishq Launches Exclusive Vishu Collection [11910-Views]
Cigna Healthcare Organizes Health Checks for Hundreds of Workers. [11160-Views]
Panasonic Encourages Families to 'Share The Taste Of Togetherness' This Ramadan [10398-Views]
Pom Pom Dot Pomellato's feel-Good Jewels [10041-Views]
UAE Ministry of Finance Showcases Social Solidarity During the Holy Month of Ramadan [9295-Views]
Al Masaood Automobiles Rolls Out Nissan's Six-Month Warranty Campaign on Genuine Spare Par... [8508-Views]
Arabian Automobiles Revs Up the Market with Competitive Renault Offers [7929-Views]
Enjoy free entry and family-friendly activities this Eid at Emirates Park Zoo and Resort o... [7774-Views]
Danube Group opens new majestic mosque in Dubai Studio City [7359-Views]
HE Al Owais: Enhanced Health Sector Efficiency Boosts UAE's Leading Position in Global Hea... [7081-Views]
Win an all-inclusive 3-day trip to the Maldives and enjoy spectacular entertainment this E... [7036-Views]
Union Coop Allocates 3 Promotions for ‘Eid Al-Fitr' [6941-Views]
Abdullah bin Zayed chairs ADFD's Executive Committee meeting [6929-Views]
Arabian Center partners with Rawafed Centre & UAE Red Crescent to spread joy this Eid Al F... [6831-Views]
Embark on an Unforgettable Escape this Eid Al Fitr at Four Seasons Resort Maldives at Land... [6695-Views]
Ramadan Memories To Be Made - Gather Together With Family And Friends This Ramadan In Duba... [6650-Views]
Hysek unveils Furtif 37mm: A bold expression of originality in an ultra-contemporary desi... [6523-Views]
Biometrics Holds The Key To Smarter Digital Travel [6306-Views]
Fia Member Clubs & Sport Federations Of America Express Full Support To Fia President Moha... [6101-Views]
Mattar Al Tayer issues decisions to form committees for the Mohammed bin Rashid Al Maktoum... [6043-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories