Tomorrow, all eyes in the Arab financial sector will be directed towards Abu Dhabi as the official celebration for the Golden Jubilee of the Arab Monetary Fund kicks off. This milestone marks fifty years since the fund’s establishment and coincides with the commencement of the 17th Ordinary Session of the Arab Finance Ministers Council, both held under the esteemed patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE.
A Gathering of Financial Leaders
This exceptional event, organised by the Ministry of Finance in collaboration with the Arab Monetary Fund, carries the theme: “Fifty Years of Arab Financial Cooperation… Together Towards a More Integrated Arab Financial Future.” The gathering will see the participation of esteemed Arab finance ministers and representatives from regional and international financial institutions. Their focus will be on exploring mechanisms to strengthen economic resilience and tackle the current global challenges.
Commitment to Arab Financial Cooperation
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, highlighted that the celebration of the Arab Monetary Fund’s Golden Jubilee and the holding of these high-level meetings under the President’s patronage exemplify the leadership’s vision in supporting and enhancing the framework for Arab collective action. It aims to provide a comprehensive regional platform that ensures financial stability and propels sustainable development across all countries in the region.
He stated: “Tomorrow’s meeting is a strategic milestone to reaffirm our collective commitment to strengthening tools for shared Arab financial action. Through this session, we aim to forge unified regional visions that enhance our Arab economies’ capacity to navigate global changes and support the establishment of financial policies that achieve inclusive growth and sustainability. Our celebration of the golden jubilee of the Arab Monetary Fund is an occasion to take pride in a rich legacy of partnership and to launch into a new decade focused on innovation, digital transformation, and sustainable finance to serve the aspirations of Arab peoples and ensure a more efficient and integrated economic future.”
Highlighting the Achievements of the Arab Monetary Fund
The highlight of this extraordinary event will be the official ceremony marking the 50th anniversary of the Arab Monetary Fund. The programme includes a documentary film showcasing the historical milestones and achievements of the Fund over five decades in supporting monetary and financial stability in Arab countries, followed by a special honouring ceremony for the founders and those who contributed to the Fund’s developmental journey.
Discussions on Financial Sustainability and Policy Development
The 17th Ordinary Session will also discuss reports from the Council’s Secretariat, alongside specialised presentations from the Arab Monetary Fund on the applications of artificial intelligence in financial policies and assessments of public financial conditions in Arab nations.
Additionally, the session will feature a presentation from the World Bank concerning sustainable financing mechanisms for infrastructure, as well as a presentation from the Organisation for Economic Co-operation and Development (OECD) discussing the developments in international tax decisions related to base erosion and profit shifting. The agenda will also include a coordinated stance for the Arab region towards international financial institutions.