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Obaid Humaid Al Tayer

UAE banks reception alongside Wold Bank, IMF meets

ABU DHABI, June 19, 2016

UAE’s Ministry of Finance (MoF), in collaboration with the UAE Central Bank and Dubai International Financial Centre (DIFC), will organise the UAE Banks reception alongside the upcoming International Monetary Fund (IMF) and World Bank annual meetings in Washington.

The event will take place on October 7.

Participating banks in the reception will include National Bank of Abu Dhabi (NBAD), Emirates NBD, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank (DIB), Commercial Bank of Dubai (CBD), Union National Bank (UNB), Sharjah Islamic Bank (SIB), Al Hilal Bank and National Bank of Fujairah (NBF). These banks have played an active role in strengthening the UAE’s banking sector and these achievements will be highlighted during the annual meetings.

Attendees will include Obaid Humaid Al Tayer, Minister of State for Financial Affairs; a large number of finance ministers; Mubarak Rashid Al Mansouri, central bank governors, heads of international financial and investment institutions, CEOs of many global banks, including delegations participating in the annual meetings of the IMF and World Bank.

Al Tayer stressed the significant role played by the banking sector within the country through providing the necessary funding for projects and investments that promote the national economy.

“The Ministry of Finance continues its efforts to support the financial sector’s stability, through expanding its network of strategic partnerships with local, regional and international financial institutions, as well as enhancing integration opportunities with UAE banking sectors to support the economic development,” he said.

“The Ministry continuously seeks to shed light on the strong position of the UAE financial sector, which has shown ability to face financial challenges, manage and deal with crises according to international standards. The advantages of dealing with UAE banks and financial institutions that provide products and services both locally and internationally.

“The Ministry, in collaboration with its strategic partners, specifically the UAE Central Bank, works on developing policies and strategic plans that enhance financial institutions and the banking sector’s abilities to raise the status of the banking sector and the financial solvency. This increases the banking sector’s funding to economic sectors, as per the UAE Vision 2021 national agenda,” he added.
 
The Ministry of Finance will organise the UAE banks reception for the fifth consecutive year. This reception is considered as an important platform which gives UAE banks and investors the opportunity to strengthen relations with businessmen and international financial institutions, as well as enhance the communication network and meet potential clients from countries across the world. – TradeArabia News Service




Tags: World Bank | IMF | UAE banks |

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