Maktoum bin Mohammed: Emirati global finance roles reflect UAE leadership's forward-looking vision

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said Emirati talent assuming leadership roles in international financial institutions reflects the leadership’s forward-looking vision to strengthen the UAE’s position as a key contributor to global economic growth and prosperity and an active partner in shaping the future of international financial governance. His Highness made the remarks following the election of Ali Alhosani as Executive Director at the International Monetary Fund (IMF), becoming the first Emirati to hold this senior international position. The achievement reflects the UAE’s commitment to expanding its presence in leadership roles across international financial institutions, while underscoring the distinguished standing of Emirati expertise and international confidence in its ability to address economic and financial issues of mutual concern. His Highness said the UAE’s representation of the Arab Group and the Maldives on the IMF Executive Board places Emirati expertise in a position of responsibility to support policies that promote growth and financial stability. “This step sends a clear message about the strength of the UAE’s economic model and its ability to share its successful experience in financial development in ways that serve the economic interests of brotherly and friendly peoples across the region,” His Highness Sheikh Maktoum said. Alhosani’s election follows an extensive career across international financial and economic institutions. In his new role, he will represent the economic and financial interests of the countries of the Arab Group and the Maldives at the IMF. A national milestone, global confidence His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said the election of the first Emirati to serve as an IMF Executive Director reflects the leadership’s vision to strengthen the UAE’s presence at the heart of global financial and economic decision-making and reaffirm the country’s role as a key partner in supporting the Sustainable Development Goals and the stability of the international financial system. “The election of Ali Alhosani to this senior international position reflects growing international confidence in Emirati talent and expertise capable of leading financial dialogue and navigating complex economic issues,” Al Hussaini said. “Through this international representation, the UAE will continue to work closely with fellow countries in the Group and all IMF member countries to advance multilateral cooperation and support fiscal and monetary policies that promote economic stability and meet the development aspirations of people across the region.” A firm commitment to strategic partnerships Ali Alhosani expressed his deepest gratitude and appreciation to the UAE leadership for the confidence placed in him to represent the UAE and the Arab Group at the International Monetary Fund. “The selection of the UAE to lead the Group reflects member countries’ confidence in the country’s sound judgement and its ability to support their development priorities and financial and economic reform programmes,” he said. Ali Alhosani “The Executive Director plays a critical role on the IMF Executive Board, given the Fund’s position as the world’s leading international monetary and financial institution, with a lending capacity of nearly US$1 trillion.” Alhosani said the next phase would focus on supporting the priorities of the Group’s brotherly and friendly countries by strengthening the IMF’s role in financing, economic assessment and capacity building. Particular attention would also be given to countries facing crises or exceptional economic circumstances through responsive frameworks designed to support their development aspirations. He added: “We also look forward to building strategic partnerships with representatives of other countries and constituencies and exchanging expertise with them, including by sharing the UAE’s successful experience in building a robust and integrated financial and monetary system. “Assuming this position, coinciding with the UAE having secured the right to host the 2029 Annual Meetings of the World Bank Group and International Monetary Fund, reflects the long-term vision set by the UAE leadership to further elevate the country’s global standing.” A pivotal role in financial system governance Executive Directors play a central role within the IMF’s Executive Board and institutional governance structure. The Board comprises 25 Executive Directors elected by individual member countries or groups of countries. Executive Directors provide strategic guidance to IMF management and discuss and approve matters and financing programmes for member countries, including support and financing programmes for countries represented by the Arab Group. Extensive experience Alhosani brings extensive experience in economic and financial polic