Abu Dhabi is currently the focal point for the financial sector in the Arab world as it hosts the official celebrations marking the Golden Jubilee of the Arab Monetary Fund (AMF), commemorating five decades since its establishment. This significant event coincides with the commencement of the 17th session of the Arab Finance Ministers Council, both happening under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE.
Strengthening Arab Financial Cooperation
The exceptional event, organised by the Ministry of Finance in collaboration with the AMF, carries the theme: “Fifty Years of Arab Financial Cooperation: Together Towards a More Integrated Arab Financial Future.” It attracts finance ministers from across the Arab nations, alongside representatives from regional and international financial institutions. Their discussions are centred on mechanisms to enhance economic resilience and address current global challenges.
Regional Insights and Strategic Commitment
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, emphasised that the celebration of the AMF’s Golden Jubilee and the high-level meetings exemplify the wise leadership’s vision to support and advance the Arab joint action framework. This initiative is set to provide a comprehensive regional platform to ensure financial stability and propel sustainable development across the region.
He stated, “Today’s meeting represents a strategic juncture to reaffirm our collective commitment to enhancing the tools of joint Arab financial work. Through this session, we aim to formulate unified regional visions that bolster our Arab economies’ capability to navigate global changes and foster financial policies that are conducive to inclusive growth and sustainability. Our celebration of the AMF’s Golden Jubilee is a moment to take pride in a rich legacy of partnership, launching into a new decade focused on innovation, digital transformation, and sustainable financing to serve the aspirations of Arab peoples and ensure a more efficient and integrated economic future.”
Commemorating Five Decades of Achievement
At the core of this remarkable event is the official celebration of the AMF’s 50th anniversary, which features a documentary showcasing historical milestones and achievements over the past five decades. This presentation highlights the fund’s role in supporting monetary and financial stability within Arab countries, followed by a special ceremony honouring the founders and key contributors to the AMF’s developmental mission.
Focused Discussions and Specialized Presentations
The 17th regular session will feature discussions on the council’s secretariat reports, along with specialised presentations by the AMF regarding the applications of artificial intelligence in financial policies and the analysis of public financial conditions in Arab countries. Furthermore, the agenda includes a presentation from the World Bank concerning sustainable financing mechanisms for infrastructure, alongside insights from the Organisation for Economic Co-operation and Development (OECD) on recent developments in international tax decisions related to base erosion and profit shifting, as well as a discussion on coordinating a unified Arab stance towards international financial institutions.