UAE holds first Strategic Financial Dialogue with Kingdom of Bahrain

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.

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.

Younis Haji AlKhoori said that organising the first Strategic Financial Dialogue is a strategic step towards deepening the partnership between the two brotherly 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 Minister explained that 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 stressed that sustaining cooperation entails strengthening institutional capacity, and this can be achieved by continuously investing in human capital, and stimulating innovation, as well as digital transformation, thereby promoting a culture of excellence and supporting development plans.

He added: “The joint initiatives and programmes will be built on clear foundations to ensure the effective implementation of the executive plan activating the memorandum of understanding signed between our two countries, while maintaining continuous communication and evaluation. This approach will contribute to the development of a long-term roadmap that further cement financial relations between the two countries.”

For his part, Yusuf Abdulla Alhumood commended the strong historical relations and deeply rooted fraternal ties that bind Bahrain and the UAE across various fields, particularly in the financial and economic sectors.

He expressed his thanks and appreciation to the UAE for its warm hospitality and generous reception, as well as for the thorough preparation and well organisation of the first Strategic Financial Dialogue between the two countries, affirming that the dialogue is a significant step towards strengthening financial cooperation.

He also lauded the significant attention accorded by both sides to financial and economic cooperation, particularly with regard to development projects financed by the Abu Dhabi Fund for Development in vital sectors such as health, housing, energy, water, infrastructure and transport, which have contributed to advancing economic development in Bahrain.

He further highlighted the economic integration and distinguished strategic partnership between the two countries, affirming Bahrain’s keenness to continue strengthening cooperation and the exceptional partnership with the UAE and to advance collaboration to the next level across various fields, particularly in finance, mutual investments, artificial intelligence and financial technology.

Four main tracks: During the dialogue session, participants explored the implementation framework of the memorandum of understanding between the two countries, which is built around four main tracks.

The first focuses on holding regular dialogue sessions between officials from both sides to enhance financial integration and deepen bilateral relations.