The United Arab Emirates has reinforced its commitment to multilateral financial collaboration by participating in the BRICS Finance Ministers and Central Bank Governors Meeting held in Rio de Janeiro under Brazil’s 2025 presidency. The high-level gathering focused on global economic trends, climate finance, and the future of international monetary governance.
The UAE delegation was led by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. He was joined by senior officials including H.E. 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.
Also present were Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations, and Hamad Issa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs.
High-Level Dialogue on Economic Challenges
The agenda featured three focused sessions: finance ministries, central banks, and a joint segment addressing the global economic outlook. Leaders discussed the importance of climate finance, macroeconomic coordination, and inclusive growth, as well as BRICS’ evolving role in shaping international financial systems.
During his remarks, H.E. Al Hussaini emphasized the UAE’s dedication to fostering collaborative solutions.
“We are committed to strengthening dialogue on the future of the global financial system and developing multilateral cooperation frameworks to address development challenges,” he stated.
He highlighted that the UAE views platforms such as BRICS as vital for promoting access to innovative financing, enhancing long-term financial stability, and fostering constructive partnerships among emerging and developing economies.
Contributing to Global Financial Stability
H.E. Al Hussaini further noted:
“We believe that constructive partnerships among emerging and developing economies, through platforms such as BRICS, offer an important opportunity to enhance global economic governance, expand access to innovative financing, and support long-term financial stability.”
He also affirmed the UAE’s contribution to drafting the joint communiqué, underlining the nation’s active role in shaping collective economic strategies that reflect the shared aspirations of BRICS member states.
The UAE officially became a member of BRICS in January 2024, following the endorsement by the group’s founding members: Brazil, Russia, India, China, and South Africa.
Strategic Role in BRICS Development Goals
As a BRICS member, the UAE is committed to deepening economic cooperation and strengthening its status as a global economic hub. The country also joined the BRICS New Development Bank (NDB) in October 2021, positioning itself to support infrastructure and sustainable development projects across member nations and other emerging markets.
Founded in 2015, the NDB plays a crucial role in mobilising capital for projects that align with sustainable development goals, enhancing economic resilience across the Global South.
