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The UAE recently participated in the 2023 Global Partnership for Financial Inclusion (GPFI) meeting of the G20 financial track, which will be held in person in Kolkata, India, under India’s G20 presidency, from 9-11 January 2023. The meeting discussed the GPFI’s work plan for 2023 and agreed on areas of action on financial inclusion in line with the priorities of the Indian Presidency.
The UAE delegation included Mariam AlHajri, Deputy Director General, General Budget Department, Ministry of Finance; and Faiza Al-Awadi, Head of Financial Consumer Protection, UAE Central Bank. G20 members, invited countries, GPFI members, and international organizations such as the World Bank and the Organization for Economic Co-operation and Development (OECD) also attended the meeting.
A workshop on financial inclusion was also held during the meeting, where members exchanged views on the GPFI’s proposed work programme. Members also discussed the opportunities and challenges of digital financial inclusion, as well as best practices and innovative tools to overcome SME financing challenges. Members also emphasized the importance of promoting financial consumer protection and financial literacy through continued cooperation and coordination with international organizations.
During the meeting, the Ministry of Finance team thanked the Indian Presidency for the invitation to participate in the G20 meeting in 2023 and emphasized the importance of deploying digital infrastructure to enhance financial inclusion. The team showcased the UAE’s experience in providing digital financial services, For example UAE Pass (National Digital Identity). The ministry’s team also reiterated the importance of ensuring a balanced representation of regional organizations in planning the development of the upcoming Financial Inclusion Initiative.
The next meeting of the GPFI is expected to be in March 2023, at which time members will review and assess the group’s progress.
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For more information, please contact:
Mary Kamasmi
Weber Shandwick
Email: mkhamasmieh@webershandwick.com
Rawad Hattar
Weber Shandwick
Email: RKhattar@webershandwick.com
Sarah Abhashira
Weber Shandwick
Email: SAbuhassira@webershandwick.com
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