UAE commits to strengthening joint Arab financial cooperation ahead of AMF Golden Jubilee

Abu Dhabi: Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, stressed that the UAE is committed to strengthening joint Arab financial cooperation and supporting sustainable development across the region, ahead of a major gathering of Arab finance ministers in Abu Dhabi.

Under the patronage of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the official Golden Jubilee celebration marking 50 years since the establishment of the Arab Monetary Fund will begin on Monday alongside the 17th Ordinary Session of the Council of Arab Finance Ministers. The UAE Ministry of Finance is hosting the meeting.

In a social media post on Sunday, Sheikh Maktoum said the gathering is intended to strengthen the framework for joint Arab financial cooperation, reinforce financial stability and enhance the ability of Arab economies to navigate a changing global environment.

“The UAE will continue to serve as a platform for dialogue, a meeting point for Arab ambitions, and a hub for opportunity, prosperity and a brighter future,” Sheikh Maktoum wrote.

The meetings, taking place on 28 September, will be held under the theme “Fifty Years of Arab Financial Cooperation... Together Towards a More Integrated Arab Financial Future” and will bring together Arab finance ministers and representatives of international and regional financial institutions, including the World Bank Group and the Organisation for Economic Co-operation and Development.

The anniversary marks five decades since the Arab Monetary Fund was established in 1976. The Abu Dhabi-based institution has provided more than $11 billion in financing to support economic and financial stability in member states and delivered more than 400 training programmes benefiting over 20,000 participants from across the Arab world.

Dr Fahad M. Alturki, Director-General and Chairman of the Board of the Arab Monetary Fund, described the Golden Jubilee as an opportunity to take stock of five decades of work while preparing the institution for a new phase focused on sustainability, innovation, digital transformation, financial inclusion and capacity development.

The 17th Ordinary Session of the Council of Arab Finance Ministers will include discussions on fiscal priorities across the region, with the Arab Monetary Fund presenting work on the potential use of artificial intelligence in fiscal policy and public finance, along with policy assessments covering Arab countries.

The agenda also includes a World Bank Group paper on sustainable financing for infrastructure and discussions on the latest OECD standards addressing Base Erosion and Profit Shifting, or BEPS.

High-level meetings will continue on Tuesday with a roundtable titled “Macroeconomic Resilience amid Geopolitical Disruptions”, focusing on ways to coordinate fiscal and monetary policies during crises.

The Golden Jubilee programme will also feature a documentary tracing the Fund’s milestones over the past 50 years, followed by a ceremony honouring its founders and figures who contributed to its development.