09/02/2016 06:09 AST
On the sidelines of the World Government Summit launched in Dubai on Monday, the Ministry of Finance (MoF) organised a meeting under the theme: ‘The Current Status of the Economic and Financial Sustainability Development in the Mena region’.
Attendees included senior financial executives from the UAE and the MENA region, as well as representatives from the World Bank Group (WBG) and the International Monetary Fund (IMF).
A number of specialised papers were discussed, which shed light on economic opportunities and challenges in the Mena region. One particular focus was financial reforms to enhance government services and spending efficiency, as well as the challenges related to managing retirement funds and financial sustainability. As part of the government’s innovation initiatives, participants discussed the most efficient mechanisms to finance creative government schemes.
Commenting on the meeting, Obaid Humaid Al Tayer, Minister of State for Financial Affairs stressed the importance of the World Government Summit; which is the largest global assembly dedicated to shaping the future of governments worldwide, and providing environment, financial, economic and development support, which is considered an essential element for a modern government.
He said, “MoF commits to its role in providing a sustainable financial environment able to effectively support the government’s goals and enhance the integration and merging between different government institutions to support creative development initiatives and strengthen the ability of institutions to fulfill their present goals and effectively plan the future.”
Today’s meeting was attended by Obaid Humaid Al Tayer, Minister of State for Financial Affairs, Mubarak Rashed Al Mansoori, UAE Central Bank Governor, Suhail Mohamed Al Mazrouei, Minister of Energy, and Sultan Al Mansouri, Minister of Economy, Hamad Hurr Al Suwaidi, Chairman of the Department of Finance (DoF) - Abu Dhabi, Ali Majid Al Mansouri, Chairman of Abu Dhabi Department of Economic Development (DED), Khalaf Al Hammadi, Director General of the Abu Dhabi Retirement Pensions and Benefits Fund, Abdulrahman Al Saleh, Director General of DoF - Dubai, Essa Abdulfattah Kazim, Governor of Dubai International Financial Centre (DIFC), Sami Al Qamzi, Director General of Dubai DED, Adel Al Hosani Director of Operations Department at the Abu Dhabi Fund for Development (ADFD), and Waleed Al Sayegh, Director General of the Central Finance Department of Sharjah.
The Gulf Today
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