UAE, Poland discuss collaboration in treasury, fintech, and renewable energy during first strategic financial dialogue

The dialogue seeks to spice up bilateral commerce and financial diversification initiatives

The UAE, represented by the Ministry of Finance, not too long ago held the primary Strategic Monetary Dialogue with the Republic of Poland in Warsaw. The occasion seeks to strengthen bilateral cooperation in numerous monetary and financial areas of mutual curiosity and focus on the newest developments in monetary markets. Throughout the dialogue, each side additionally explored new alternatives for collaboration within the renewable power and banking sectors.

Emirati and Polish delegations

The Emirati delegation was led by Younis Haji Al Khoori, under-secretary of the Ministry of Finance, and included key figures akin to Ahmed Ibrahim Al Mansouri, consul-general of the UAE in Poland; Maryam Buti, chief govt officer of the Securities and Commodities Authority; Ali Abdullah Sharafi, appearing assistant under-secretary for Worldwide Monetary Relations on the Ministry of Finance; Abdulla Al Muhairi, chief banking supervision Central Financial institution of the UAE; Khadija Ali, chief consultant – Enterprise Improvement Segments, DIFC; Saker Asllan, chief change operations officer, Abu Dhabi Securities Change; and Ahmed Al Awadi, director of improvement and Funding (EMEA) at Masdar.

The Polish delegation included Paweł Karbownik, under-secretary of State on the Ministry of Finance; Robert Krzyśków, director of the Worldwide Cooperation Division on the Ministry of Finance; together with senior officers from the Polish Monetary Supervision Authority and Polish Banking Supervision Division.

Opening session and bilateral relations

Throughout the opening session, Younis Haji Al Khoori expressed gratitude to the Polish counterparts for internet hosting the primary strategic monetary dialogue, praising the robust bilateral relations between the UAE and Poland. He emphasised the importance of such occasions in bolstering monetary cooperation, in addition to increasing financial, commerce, and improvement ties between the 2 nations.

Al Khoori highlighted that the dialogue offered a platform to share the newest developments in monetary markets, deal with urgent world priorities and challenges, and discover modern options in important sectors. He pressured that this dialogue marks one other important step in direction of evolving bilateral cooperation between Poland and the UAE, urging each nations to accentuate their efforts to drive sustainable and affluent financial development.

World financial panorama and UAE’s financial diversification

Addressing the worldwide financial panorama, Al Khoori identified that whereas the financial system reveals robust resilience, it requires ongoing consideration to realize monetary sustainability, scale back inflation, and deal with local weather change. He affirmed that the UAE had made substantial strides in diversifying its nationwide financial system, with the non-oil sector contributing roughly 75 p.c to the GDP in 2023, and an anticipated total development fee of 6.2 p.c by 2025.

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A part of the strategic monetary dialogue between the UAE and Poland. (Photograph Credit score: WAM)

Alternatives for cooperation in renewable power and monetary sector

Al Khoori additionally mentioned a number of subjects that promise alternatives for cooperation between the 2 international locations, together with the renewable power sector and the sharing of UAE’s experience in treasury bonds program. He highlighted the UAE’s place as a worldwide monetary hub, attributing it to initiatives akin to immediate cost platforms, assist for fintech firms, and modern financing choices, in addition to the compliance of the nation’s monetary insurance policies with worldwide tax insurance policies.

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Digital transformation and AI integration

Addressing the mixing of know-how and synthetic intelligence (AI) options, the MoF Beneath-Secretary emphasised that the Ministry of Finance aligns with the UAE’s AI Technique, and has launched numerous digital transformation initiatives leveraging AI and metaverse applied sciences.

Concluding his remarks, Al Khoori thanked the Polish counterparts for internet hosting the strategic monetary dialogue and expressed his hope that the subsequent occasion can be hosted within the UAE.

Showcasing funding alternatives, monetary improvements

Throughout the dialogue, the UAE Ministry of Finance delivered shows on its treasury bonds program, plans to boost home public debt devices, and the newest market developments and funding alternatives on the Abu Dhabi Securities Change. The Dubai Worldwide Monetary Centre additionally offered its enterprise atmosphere and funding benefits for world firms. The discussions lined a variety of subjects, together with tax insurance policies, monetary know-how, the newest AI instruments, and modern options for monetary markets.

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