Sheikh Mohammed Bin Rashid Al Maktoum.

Gulf Today, Staff Reporter

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, expressed his pride in the election of Mohammad Bin Hadi Al Husseini, as Chair of the Development Group of the International Monetary Fund and the World Bank, stressing that any Emirati who reaches a global position translates the UAE’s lead and consolidates its international role in all fields.

His Highness said on Twitter on Saturday, “I am proud of the election of Mohammad Bin Hadi Al Husseini as Chair of the Development Group of the International Monetary Fund and the World Bank. Mohammed is an important member of the UAE government team.”

He also said, “Any Emirati who reaches a global position translates the UAE’s lead and consolidates its international role in all fields.’

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, also congratulated Al Husseini on his election as Chair of the Development Group,

He said on Twitter, "Congratulation to Mohammed Bin Hadi Al Husseini for his election as Chair of the Development Group of the International Monetary Fund and the World Bank. The world today trusts the capabilities of the Emirati people to lead international institutions and work teams, my best wishes to Mohammad.”

The Development Group is a joint ministerial committee of the Boards of Governors of the Bank and the Fund.

During his two-year tenure, the minister will work with the committee's members that include ministers, and the Board of Governors of the WBG and IMF to complete and manage the committee's programmes related to sustainable and comprehensive economic development, in order to build and develop the economies of developing countries.

Al Hussaini thanked the member states and the WBG for electing him as the Committee Chairman, stressing the United Arab Emirates' keenness on cooperating and coordinating with its strategic partners and all international organisations to enable comprehensive and sustainable development at all levels.

A ministerial-level forum that represents the member countries of the World Bank Group and the International Monetary Fund, the Development Committee was established in 1974 and was previously known as the ‘Joint Ministerial Committee of the Boards of Governors of the Bank and Fund.’

It comprises 25 members from the finance or development ministries that are members of the WBG and the IMF. 

The Committee is mandated to address a wide range of  issues, including, but not limited to, the role of the IMF and WBG, in confronting future crises, digitalisation, the green economy, trade, industrial policies, and poverty.