Mohammed meets global banking leaders participating in 2023 International Monetary Conference

Gulf Today, Staff Reporter

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday met global banking leaders participating in the International Monetary Conference held this week in Dubai.

Also present on the occasion were His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai; His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE; His Highness Sheikh Ahmed Bin

Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; and His Highness Sheikh Mansoor Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Dubai Ports and Borders Security Council.

Sheikh Mohammed welcomed senior officials of the banking industry including John Dugan, Chair of Citigroup and President of the conference, at Za’abeel Palace.

“The UAE is dedicated to forging strong and dynamic partnerships with the global financial community, aligned with its vision for the future. We are also committed to contributing to building a sustainable and prosperous international economy,” Sheikh Mohammed said.

Aligned with the UAE's commitment to supporting global economic systems that provide equal opportunities for sustainable development worldwide, the country has set an example for policies and prudent financial management that promote the stability, resilience and efficiency of banking and financial systems,Sheikh Mohammed said.

He emphasised Dubai's stable investment environment, focus on transparency, growth-friendly legislative frameworks and strong logistics capabilities, as well as the city's role in creating economic value that promotes new growth opportunities, economic sustainability and innovation.

The 2023 International Monetary Conference, the first ever edition of the conference held in the region, brought together top executives from the largest and most prominent banks and financial institutions in the world. The event is held annually in major cities worldwide.

Sheikh Mohammed commended the goals of the annual conference, which is focused on discussing crucial economic and monetary issues and exploring ways to enhance the international banking system.

The meeting discussed the UAE and Dubai’s growing role as a pivotal global trading and financial hub.

Sheikh Mohammed said that Dubai has set itself the goal of becoming one of the world’s top four global financial centres over the next decade as part of the Dubai Economic Agenda D33.

"This will raise the city’s ability to provide a highly productive ecosystem for financial companies to thrive, further raising Dubai’s role in shaping the future of the region’s financial sector and economy," he said.

John Dugan, Chair of Citigroup and President of the International Monetary Conference, hailed Dubai's increasing prominence in the global financial industry and its emergence as a major economic, investment and trade destination.

The event was also attended by Mohammad Al Gergawi, Minister of CaBinet Affairs; Mohammed Bin Hadi Al Hussaini, Minister of State for Financial Affairs; and Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD Group, and other senior officials.

Founded in 1954, the International Monetary Conference is a private organisation comprising of 31 member countries, 58 multinational banks, and prominent financial service institutions.

The conference invites central bank governors from member countries, and senior officials from multilateral organisations such as the World Bank and the International Monetary Fund, to attend its annual meetings.