UAE Participates in 3rd G20 Finance Ministers and Central Bank Governors Meeting in Durban
The United Arab Emirates (UAE), represented by the Ministry of Finance and the Central Bank of the UAE, is actively participating in the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, held in Durban under South Africa’s 2025 presidency. The conference gathers representatives from G20 member states, invited countries, and international organisations to address a range of critical global financial and economic issues.
The UAE delegation is led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and includes Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance; Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE; and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance.
The agenda at Durban is set to explore progress on the 2025 priorities defined by South Africa’s G20 presidency. Participants will work towards the adoption of the meeting’s official communiqué, to which the UAE has contributed through working group feedback and participation in Deputy-level drafting sessions.
Key discussion topics include the global macroeconomic outlook, international financial architecture, infrastructure development, international taxation, impediments to growth and development in Africa, sustainable finance, financial sector issues, and financial inclusion.
According to Mohamed bin Hadi Al Hussaini:
“The 3rd G20 Finance Ministers and Central Bank Governors Meeting provided a strategic platform for strengthening international coordination on global economic and financial issues as well as for advancing joint efforts to achieve economic stability and support sustainable development.”
He further stated the UAE’s participation is aimed at supporting the group’s global objectives and playing an active role in the development of international economic and financial policies.
Al Hussaini emphasised the importance of effective policies that ensure macroeconomic stability, including targeted fiscal support, improved institutional quality, and enhanced labour market efficiency. He reiterated the UAE’s commitment to strengthening the international finance structure, supporting emerging markets and developing economies (EMDEs) by reducing investment risks, mobilising private capital, providing targeted financial support, strengthening local markets, advancing structural reforms, and fostering international cooperation—all aimed at enhancing global financial stability.
He added that the UAE continues to pursue proactive financial policies to reinforce this approach, thus contributing to long-term sustainable development.
Al Hussaini welcomed the progress made in international tax reform through the BEPS Action Plan, showcasing the UAE’s commitment to fair and sustainable tax systems via participation in the UN Framework Convention on International Tax Cooperation.
He also underscored the importance of private sector participation in infrastructure, improving access to affordable capital through inclusive financial markets, and advancing governance and institutional capacity. These, he noted, are key policy priorities for driving growth and development in Africa.
Al Hussaini highlighted the need for policy coherence, institutional capacity, and reliable climate data to address barriers to sustainable finance, referencing the UAE’s experience in closing insurance protection gaps via climate risk assessments and premium pricing frameworks in collaboration with financial regulators.
On the sidelines of the G20 FMCBG, the UAE also attended the G20 Finance and Central Bank Deputies meetings from 14-16 July, focusing on the drafting of the official statement. Further deliberations covered recent multilateral development bank developments, pandemic response financing, growth and development in Africa, and additional communiqué drafting sessions.
The UAE’s participation in the 2025 G20 activities will culminate at the Leaders’ Summit later this year. This marks the UAE’s sixth involvement in the G20 Summit process, following guest invitations to France (2011), Saudi Arabia (2020), Indonesia (2022), India (2023), and Brazil (2024).
Team V.4-EM-UAE
