Latest news with #MohamedbinHadiAlHussaini
Mid East Info
6 hours ago
- Business
- Mid East Info
UAE and Chad Discuss Ways to Strengthen Cooperation in Financial Sector - Middle East Business News and Information
His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, has received H.E Tahir Hamid Nguilin, Chad's Minister of Finance, Budget, Economy, Planning and International Cooperation, to discuss ways to strengthen cooperation in financial sector. Held at the Ministry of Finance offices in Dubai, the meeting brought together several senior Chadian officials, including H.E. Guibolo Fanga Mathieu, Minister of Trade and Industry; H.E. Fatima Goukouni Weddey, Minister of Transport, Civil Aviation, and National Meteorology; H.E. Fatime Aldjineh Garfa, Minister Delegate to the Ministry of Foreign Affairs; and Oumar Teguen Idibei Berde, Ambassador of the Republic of Chad to the UAE. The two sides explored ways to enhance institutional partnerships and activate financial cooperation mechanisms. H.E Al Hussaini reaffirmed that the UAE is committed to strengthening financial collaboration with friendly nations. 'Exchanging technical knowledge and investing in capacity building are essential to raising the efficiency of government financial systems and achieving long-term fiscal sustainability,' he said. The meeting concluded with a mutual agreement on the importance of sustained coordination and communication between the two countries. Both sides underscored their shared interest in deepening bilateral cooperation and exchanging best practices to support national development priorities.
Mid East Info
6 hours ago
- Business
- Mid East Info
Mohamed bin Hadi Al Hussaini: Removing the UAE from EU list of high-risk third countries reflects the global trust in the UAE's financial system
His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, stressed that the decision to remove the UAE from the European Union's list of high-risk third countries for money laundering and terrorist financing is a strategic milestone that clearly reflects the international recognition of the UAE's comprehensive efforts being made to strengthen the integrity of its financial system and uphold the highest global standards in this area. This decision, Al Hussaini added, showcases the UAE's position as a trusted global financial hub, one defined by transparency, openness, and alignment with international developments. His added: 'The UAE is committed to strengthening its position as a responsible and proactive international partner in safeguarding the integrity of the global financial system. This decision is the result of tireless efforts and continuous coordination among the relevant national entities, under the leadership of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, and Chairman of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism, along with the close partnership with the European Union. It reflects the success of the UAE's approach to international cooperation and institutional integration.' His Excellency continued: 'This milestone will further enhance investor and institutional confidence in the UAE's financial landscape, support the continued flow of investment, and further solidify the country's reputation as a leading global destination for finance and investment. At the Ministry of Finance, in collaboration with our partners across federal and local entities, we will spare no effort to improve the UAE's competitiveness in global finance by strictly adhering to internationally recognised best practices in line with the vision of our wise leadership, seeking to contribute to the nation's sustainable economic development goals.'
TECHx
a day ago
- Business
- TECHx
UAE Ministry of Finance Wins AI Impact Award in Geneva
Home » Emerging technologies » Artificial Intelligence » UAE Ministry of Finance Wins AI Impact Award in Geneva The UAE Ministry of Finance has won the Innovating for Impact Award at the AI for Good Summit 2025. The award was given in the category of AI applications in the financial sector. The event took place at the Geneva International Conference Centre (CICG). It was organised by the International Telecommunication Union (ITU) in collaboration with several United Nations agencies. The Ministry was recognised for its efforts in applying artificial intelligence across various financial functions. These include fraud detection, risk assessment, algorithmic trading, and customer service. Officials stated that these initiatives have improved system efficiency and supported sustainable development goals. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, announced that the award reflects the UAE's progress in integrating AI into government operations. He added that these efforts have helped boost efficiency and global competitiveness in the financial sector. Al Hussaini revealed that the Ministry follows an institutional innovation approach. It focuses on digital transformation and operates on a flexible technical infrastructure. This supports risk management, operational efficiency, and transparency in public financial resources. He emphasized that the recognition will encourage teams to continue building a data-driven, balanced financial system aligned with the UAE's 50-year vision. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, said the award affirms the UAE's leadership in artificial intelligence. He highlighted innovation as a key to driving efficiency and transparency in government financial management. He added that the Ministry has launched initiatives powered by predictive analytics. These include a smart budget management system that monitors economic indicators in real time. Key highlights: UAE honoured for AI use in finance at UN's AI for Good Summit Recognised for AI-based fraud detection, trading, and budgeting Ministry aims to promote innovation and international partnerships The AI for Good Summit is the official UN platform for AI. It is organised by the ITU with support from 47 UN agencies and the Swiss Government. The summit explores AI's global impact and supports knowledge exchange to address development challenges.
Arabian Post
2 days ago
- Business
- Arabian Post
UAE Hits Milestone with EU Delisting From High‑Risk Financial Watchlist
Arabian Post Staff -Dubai European Parliament approved the removal of the United Arab Emirates from its 'high-risk third countries' list for money laundering and terrorist financing, a decision aligned with its earlier removal by the Financial Action Task Force in February 2024 and marking a pivotal regulatory victory. This shift reduces the compliance burden on trade and financial flows, enhancing Abu Dhabi's ambitions to deepen ties with Brussels and attract global investors. Parliament's vote endorsed the European Commission's update to the list, which also saw the UAE's delisting alongside jurisdictions like Gibraltar, Barbados and Panama, while new entries such as Monaco and Kenya were added. The move followed intense technical dialogue between Emirati authorities and EU institutions, satisfying the bloc's concerns with enhanced cooperation on financial intelligence sharing and asset recovery. ADVERTISEMENT Mohamed bin Hadi Al Hussaini, the Minister of State for Financial Affairs, described the decision as a 'strategic milestone' that underscores global recognition of the UAE's robust framework. He emphasised that this represents a shift toward positioning the UAE as a transparent, resilient and globally trusted financial centre – a foundation for attracting sustained investment. These reforms follow a sweeping crackdown on non-compliance, with over AED 339 million in fines levied by the Central Bank on exchange houses, banks and insurers. The fines were part of a wider national strategy enacted under Federal Decree‑Law 20/2018 and its amendments, stretching regulatory oversight to real estate, precious metals, auditing and digital asset sectors. Hamid Saif Al Zaabi, Secretary‑General of the National Anti‑Money Laundering and Combating the Financing of Terrorism Committee, told WAM that the EU's removal affirms successful system‑wide integration across public and private sectors. He described the outcome as the result of a sustained national strategy dating back to 2014, supported by Cabinet-approved action plans and ongoing capacity‑building initiatives. Despite commendations for its progress, Transparency International cautioned that delisting should not be interpreted as full clearance. The organisation noted persistent challenges in real estate safeguards and oversight of politically exposed persons, calling for ongoing vigilance and structured dialogue. Financial experts note that removal from the EU's list could yield significant economic dividends. The International Monetary Fund estimates capital inflows may surge by as much as 7.6 per cent of GDP, with foreign direct investment potentially rising by around 3 per cent. Gulf region analysts view delisting as unlocking smoother trade with Europe across sectors such as renewable energy, fintech and digital infrastructure. Diplomatic messaging framed the delisting as a mutual strategic victory. UAE Minister Ahmed bin Ali Al Sayegh called it 'independent recognition' of Abu Dhabi's dedication to high international standards. EU Ambassador to the UAE Lucie Berger described it as deepening trust and advancing a shared commitment to economic safeguard and global security. Simultaneously, EU trade officials suggested that the move removes political and regulatory barriers ahead of ongoing free trade agreement negotiations with the UAE. While the FATF had cleared the UAE in early 2024, the EU's delayed action mirrored its own rigorous oversight cycle. In March 2023, the EU flagged the UAE for strategic deficiencies before launching a renewed process that incorporated enhanced inter-agency cooperation and legal reform. Next on the UAE's reform agenda is ensuring resilience in emerging risk domains such as cryptocurrency laundering and cross-border terror financing. Analysts emphasise that maintaining international trust will require sustained enforcement, legislative updates scheduled for later this year and deeper public–private collaboration.
Al Etihad
2 days ago
- Business
- Al Etihad
UAE, Chad discuss ways to strengthen cooperation in financial sector
10 July 2025 18:48 DUBAI (WAM)Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, has received Tahir Hamid Nguilin, Chad's Minister of Finance, Budget, Economy, Planning and International Cooperation, to discuss ways to strengthen cooperation in financial at the Ministry of Finance offices in Dubai, the meeting brought together several senior Chadian officials, including Guibolo Fanga Mathieu, Minister of Trade and Industry; Fatima Goukouni Weddey, Minister of Transport, Civil Aviation, and National Meteorology; Fatime Aldjineh Garfa, Minister Delegate to the Ministry of Foreign Affairs; and Oumar Teguen Idibei Berde, Ambassador of the Republic of Chad to the two sides explored ways to enhance institutional partnerships and activate financial cooperation Hussaini reaffirmed that the UAE is committed to strengthening financial collaboration with friendly nations. 'Exchanging technical knowledge and investing in capacity building are essential to raising the efficiency of government financial systems and achieving long-term fiscal sustainability,' he meeting concluded with a mutual agreement on the importance of sustained coordination and communication between the two countries. Both sides underscored their shared interest in deepening bilateral cooperation and exchanging best practices to support national development priorities.
