Dubai: The UAE has hosted its first Strategic Financial Dialogue with the Kingdom of Bahrain as part of the executive plan to activate the Memorandum of Understanding (MoU) signed between the two countries. Organised by the Ministry of Finance, the dialogue was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations at the Ministry of Finance.
According to Emirates News Agency, representing the Kingdom of Bahrain was a delegation from the Ministry of Finance and National Economy, including Yusuf Abdulla Alhumood, Undersecretary for Financial Affairs at the Ministry of Finance and National Economy; Adnan Abdulwahab Ishaq, Assistant Undersecretary for Fiscal Policies and Budget; Noora Hassan Al Assam, Assistant Undersecretary for Resources and Information at the Ministry of Finance and National Economy; Eman Jawad Al-Asfoor, Assistant Undersecretary for Economic Affairs at the Ministry of Finance and National Economy; and Shaikh Abdullah bin Ibrahim Al Khalifa, the Director of International Relations at the Ministry of Finance and National Economy, along with senior officials from both sides.
The event aimed to strengthen financial cooperation and integration as well as to further consolidate bilateral relations through four key pillars: structured policy dialogue between officials, the exchange of expertise and technical cooperation, the launch of joint initiatives and programmes, and ongoing implementation, follow-up and evaluation.
AlKhoori stated that organising the first Strategic Financial Dialogue is a strategic step towards deepening the partnership between the two nations and promoting financial integration. He noted that the dialogue demonstrates a shared commitment to boosting cooperation and establishing a comprehensive, sustainable model of financial collaboration. The dialogue sessions will help align perspectives and shape policies that enhance financial integration while providing a broader platform to discuss common issues in line with the future aspirations of both countries.
AlKhoori added that exchanging expertise with the Bahraini counterpart is intended to build a regional benchmark in financial and economic management, boost competitiveness, and bolster the ability of both countries to respond to global challenges through strong institutional partnerships and joint research. He emphasized the importance of strengthening institutional capacity by continuously investing in human capital, stimulating innovation, and promoting digital transformation.
Alhumood commended the strong relations and deeply rooted ties that bind Bahrain and the UAE, particularly in financial and economic sectors. He expressed gratitude to the UAE for its hospitality and the thorough preparation of the dialogue, affirming it as a significant step towards strengthening financial cooperation. He highlighted the economic integration and distinguished partnership between the two countries, affirming Bahrain’s commitment to advancing collaboration in finance, mutual investments, artificial intelligence, and financial technology.
During the dialogue session, participants explored the implementation framework of the memorandum of understanding, built around four main tracks. The first track focuses on regular dialogue sessions to enhance financial integration and coordination of fiscal and monetary policies, discussing shared challenges across key sectors. The second track focuses on exchanging expertise and technical cooperation in financial legislation, tax policies, debt management, financial technology, and government procurement. The third track centers on joint initiatives to strengthen institutional capacity, while the fourth track involves implementation and evaluation, with a coordination team to monitor progress.
The Strategic Financial Dialogue included presentations on topics such as the Digital Government Procurement Platform and financial inclusion initiatives. The UAE delegation highlighted projects like the Virtual Mona Project and Artificial Intelligence and the Digital Economy.
