"Emirates banks"Hosting the annual meetings of the World Bank and the IMF in 2029 reflects the country’s position as a global financial and economic center
ABU DHABI, April 10, 2018 (WAM) – The Emirates Banking Federation said that the selection of the United Arab Emirates to host the annual meetings of the World Bank Group and the International Monetary Fund for the year 2029 comes as confirmation of the country’s position as a global financial and economic center, and its vital role in supporting comprehensive and sustainable development efforts and initiatives and financial stability at the international level.
His Excellency Abdul Aziz Al Ghurair, Chairman of the Board of Directors of the UAE Banks Federation, said that choosing the UAE to host this global event for formulating economic and financial policies confirms the international community’s confidence in the country’s standing and its capabilities to lead global dialogues, as the UAE is distinguished by its advanced infrastructure and organizational capabilities and expertise in organizing global events, in addition to its financial and economic policies that have established its position as a leading economic and financial center on the global level.
His Excellency added: Over the past few years, the United Arab Emirates has been able to develop a stable and flexible economic environment, and balanced financial and monetary policies. The financial and banking sector constitutes a fundamental pillar in achieving the country’s strategic objectives and sustainable development goals. We are proud that the UAE is the only country in the Middle East and Africa that is chosen to organize these meetings, which are held once every three years outside the headquarters of the World Bank and the International Monetary Fund, for the second time, as Dubai hosted these meetings in the year 2003.
He stressed his commitment to working with strategic partners, under the direct supervision of the Central Bank of the United Arab Emirates, to work to support all efforts related to these meetings in line with the UAE’s position as a leading destination in organizing events and leading constructive dialogues to develop economic and financial policies.
Al Ghurair pointed out that this choice comes in addition to many important events in the financial and economic field that the UAE will host in the same year, such as the Sibos 2029 Conference and Exhibition, the International Conference on Banking Organized by the Society for Worldwide Interbank Financial Telecommunications – SWIFT, which is considered a testimony of global confidence in the UAE’s pioneering position and its vital role in leading initiatives to develop the financial and banking sector.
He stated that the UAE is the first and only country in the Middle East and Africa region to be chosen by the global financial and banking sector to host the Sibos Conference and Exhibition, as Dubai previously hosted the conference in 2013.
The conference is held in several global financial centers such as Singapore, Geneva, Toronto, London, Amsterdam and Beijing.
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