Home Business Mohamed Hadi Al Hussaini meets with Head of Swiss Federal Department of Finance

Mohamed Hadi Al Hussaini meets with Head of Swiss Federal Department of Finance

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ABU DHABI, 26th March, 2022 (WAM) — Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, recently met with Ueli Maurer, Federal Councillor, Head of the Swiss Federal Department of Finance, and his accompanying delegation.

The meeting, which took place in Abu Dhabi, sought to strengthen Emirati-Swiss cooperation and strategic partnership in various fields, especially economic and financial.

Younis Haji Al Khoori, Under-Secretary of Ministry of Finance (MoF), Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority (SCA), and Saif Humaid Al Dhaheri, Assistant Governor for Strategic Affairs – Financial Infrastructure and Digitisation Department at the Central Bank of the UAE (CBUAE), attended the meeting.

Also in attendance were senior officials from the MoF, Ministry of Foreign Affairs and International Cooperation, CBUAE, SCA, the Dubai International Financial Centre (DIFC), the Abu Dhabi Global Market (ADGM), the UAE Banks Federation, and a number of officials from banks and financial institutions in the UAE.

From the Swiss side, Daniela Stoffel Delperte, State Secretary for International Finance at the Swiss Federal Department of Finance, Massimo Baggi, Ambassador of Switzerland to the UAE, and a number of officials from Swiss banks and financial institutions attended the meeting.

Al Hussaini welcomed Maurer and the participants in the Fourth UAE-Switzerland Financial Dialogue and noted the importance of this dialogue in demonstrating strength of the relationship between the two countries. The UAE-Switzerland Financial Dialogue brings together ministries of finance, central banks, financial regulatory authorities, and leaders of financial institutions to enhance cooperation, explore opportunities and identify new areas of partnership during the next phase.

Al Hussaini noted that that the resilience of the financial sector is key to achieving financial stability and economic development. “In the next phase, we need to reprioritise strategic objectives related to the enhancement of financial stability and the promotion of sustainable and inclusive development,” he stated.

Al Hussaini noted that the UAE has taken particular interest in the work on developing transparent and efficient cross-border payment systems, including low-cost remittances, as well as addressing the destabilising effects of digital currencies in line with the global sustainable development agenda.

He said, “The UAE is actively exploring avenues to promote sustainable finance, which is an important strategic objective for the UAE as we seek to integrate global efforts within this area as part of our preparation for the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) in 2023.”

He concluded by thanking all the participating members for their efforts in making this dialogue a success and their innovative ideas that contribute to addressing the unprecedented challenges facing the financial systems while promoting the process of sustainable and comprehensive development.

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