UAE takes part in 3rd G20 FMCBG meeting

The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, participated in the third meeting of Finance Ministers and Central Bank Governors of the G20 (G20 FMCBG), which took place on July 25-26 under Brazil’s presidency for the year 2024.

The event was held in Rio de Janeiro with the presence of representatives from member countries, invited nations, and international financial organisations and institutions.

The UAE’s delegation to the meeting was led by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, and included Ibrahim Obaid Al Zaabi, CBUAE’s Assistant Governor of the Monetary Policy and Stability Department; HE Ambassador Majid Al Suwaidi, COP28 Director-General; Ali Abdullah Sharafi, Assistant Undersecretary of the International Financial Relationship Sector at the MoF; and Thuraiya Hamed Alhashmi, Director of International Financial Relations and Organisations Department at the MoF.

On the sidelines of the meeting, Brazilian President Luiz Inácio Lula da Silva met with Mohamed Bin Hadi Al Hussaini to discuss common issues, including enhancing bilateral cooperation in sustainable finance. The meeting was attended by Saleh Al Suwaidi, UAE Ambassador to Brazil.

Al Hussaini emphasised that the third G20 FMCBG meeting in Rio de Janeiro is yet another testament to the importance of international cooperation in addressing global economic challenges and strengthening financial stability.

“Our discussions at the event focused on enhancing financial inclusion, promoting international tax cooperation, and sustainable finance, which are vital steps towards our development and climate objectives. The UAE strongly supports the Group’s efforts to bolster international collaboration, tackle global challenges, and provide essential support for global economic development and sustainable financial stability. We are confident that through collective action, we can achieve our shared objectives,” he stated.