emirates7 - H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, reviewed the Ministry of Finance’s (MoF) 2024 annual report, titled “Financial Sustainability and Global Leadership.”** The report captures the ministry’s key achievements, financial performance, national initiatives, and its regional and global engagements over the year, reflecting the UAE’s growing stature as a global financial hub.
The review took place during a meeting chaired by Sheikh Maktoum at the ministry’s headquarters in Dubai, attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, Undersecretary Younis Haji AlKhoori, and other senior officials.
Sheikh Maktoum emphasized that the UAE continues to stand out as a stable and progressive economic center amid rapid global changes. This, he said, is thanks to the country’s forward-thinking leadership that prioritizes adaptability and a long-term vision. He affirmed that, under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and H.H. Sheikh Mohammed bin Rashid Al Maktoum, the UAE is dedicated to building a diversified and people-focused economic model.
He highlighted the Ministry’s strides in advancing fiscal management and supporting economic growth through innovative financial policies. In 2024, the Ministry made notable progress toward realizing the leadership’s goals and enhancing the UAE’s global financial standing.
Sheikh Maktoum pointed to the consistent success of the UAE’s dirham-denominated government treasury bond and Islamic sukuk programmes, which reflect the Ministry’s commitment to innovative financial solutions. These efforts help maintain liquidity and bolster the economy while reinforcing the UAE’s image as a top-tier investment destination.
He also noted that the UAE's strong sovereign credit ratings from global agencies like Fitch and Moody's underscore the country's financial resilience and enhance its attractiveness to investors. The ministry, he added, continues to actively influence international financial agendas through platforms like the G20, BRICS, the IMF, and the World Bank.
“Our engagement in these international forums allows the UAE not only to participate but to help shape global financial directions, offering strategic insights on addressing challenges and advancing sustainable development,” Sheikh Maktoum stated.
Minister Al Hussaini reaffirmed the Ministry’s leadership role in fostering innovation and operational excellence within government. He emphasized that the Ministry remains key to advancing sustainable economic growth, in line with the UAE Centennial 2071 vision.
He noted that amid growing global economic pressures, the ministry had implemented policy frameworks rooted in international best practices. Throughout 2024, it achieved major milestones—ranging from the launch of forward-looking initiatives to improved resource and asset management across the federal government.
Al Hussaini highlighted that efforts to enhance transparency, efficiency, and digital transformation remain central to the ministry’s strategy. These are aligned with the UAE Digital Government Strategy 2025 and the ‘We the UAE 2031’ vision, as the ministry moves steadily toward building a robust and diversified national economy.
The annual report detailed the strong performance of the Islamic T-Sukuk programme, which began in May 2023. By the end of 2024, it had completed 14 successful auctions, reaching a record AED1.1 billion in issuance size and AED17.1 billion in total nominal value.
On public debt, the report showed total outstanding domestic debt at AED23.45 billion by year-end 2024, including AED6.35 billion from the government bond programme and AED17.1 billion from the sukuk programme, following the repayment of two-year bonds worth AED4.85 billion.
The report also underscored 2024 as a year of major legislative and financial reforms. These included the approval of the federal general budget, adoption of consolidated financial statements for 2023, and significant updates to laws combating money laundering and governing taxation. It also introduced new policies covering leasing, inventory, and asset management.
To support fiscal sustainability and economic diversification, the ministry continued shaping future-oriented financial policies. These aim to enhance public spending efficiency, maintain budget balance, and direct investments toward vital sectors.
The ministry’s digital transformation was another highlight. It rolled out a series of advanced tools and AI-powered solutions to improve financial operations, speed up service delivery, and enable a more agile and transparent financial ecosystem. These digital efforts have helped reduce bureaucracy, increase efficiency, and introduce next-generation government services tailored to user needs.
On the global front, the report emphasized the ministry’s growing influence, including its active role in G20 and BRICS summits, and high-level meetings with the IMF and World Bank. The UAE further strengthened regional and international cooperation in sustainable finance, signing multiple agreements to enhance investment flows and trade.
By the end of 2024, the UAE had signed 146 agreements to avoid double taxation and 116 agreements for investment protection and promotion. These milestones reflect the government’s focus on improving competitiveness and financial stability.
Looking ahead, the ministry outlined a forward-thinking strategy centered on financial innovation, sustainable revenue models, and deepening international partnerships. These efforts are aligned with the ‘We the UAE 2031’ vision to reinforce the country’s role as a global leader in finance and investment.
The review took place during a meeting chaired by Sheikh Maktoum at the ministry’s headquarters in Dubai, attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, Undersecretary Younis Haji AlKhoori, and other senior officials.
Sheikh Maktoum emphasized that the UAE continues to stand out as a stable and progressive economic center amid rapid global changes. This, he said, is thanks to the country’s forward-thinking leadership that prioritizes adaptability and a long-term vision. He affirmed that, under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and H.H. Sheikh Mohammed bin Rashid Al Maktoum, the UAE is dedicated to building a diversified and people-focused economic model.
He highlighted the Ministry’s strides in advancing fiscal management and supporting economic growth through innovative financial policies. In 2024, the Ministry made notable progress toward realizing the leadership’s goals and enhancing the UAE’s global financial standing.
Sheikh Maktoum pointed to the consistent success of the UAE’s dirham-denominated government treasury bond and Islamic sukuk programmes, which reflect the Ministry’s commitment to innovative financial solutions. These efforts help maintain liquidity and bolster the economy while reinforcing the UAE’s image as a top-tier investment destination.
He also noted that the UAE's strong sovereign credit ratings from global agencies like Fitch and Moody's underscore the country's financial resilience and enhance its attractiveness to investors. The ministry, he added, continues to actively influence international financial agendas through platforms like the G20, BRICS, the IMF, and the World Bank.
“Our engagement in these international forums allows the UAE not only to participate but to help shape global financial directions, offering strategic insights on addressing challenges and advancing sustainable development,” Sheikh Maktoum stated.
Minister Al Hussaini reaffirmed the Ministry’s leadership role in fostering innovation and operational excellence within government. He emphasized that the Ministry remains key to advancing sustainable economic growth, in line with the UAE Centennial 2071 vision.
He noted that amid growing global economic pressures, the ministry had implemented policy frameworks rooted in international best practices. Throughout 2024, it achieved major milestones—ranging from the launch of forward-looking initiatives to improved resource and asset management across the federal government.
Al Hussaini highlighted that efforts to enhance transparency, efficiency, and digital transformation remain central to the ministry’s strategy. These are aligned with the UAE Digital Government Strategy 2025 and the ‘We the UAE 2031’ vision, as the ministry moves steadily toward building a robust and diversified national economy.
The annual report detailed the strong performance of the Islamic T-Sukuk programme, which began in May 2023. By the end of 2024, it had completed 14 successful auctions, reaching a record AED1.1 billion in issuance size and AED17.1 billion in total nominal value.
On public debt, the report showed total outstanding domestic debt at AED23.45 billion by year-end 2024, including AED6.35 billion from the government bond programme and AED17.1 billion from the sukuk programme, following the repayment of two-year bonds worth AED4.85 billion.
The report also underscored 2024 as a year of major legislative and financial reforms. These included the approval of the federal general budget, adoption of consolidated financial statements for 2023, and significant updates to laws combating money laundering and governing taxation. It also introduced new policies covering leasing, inventory, and asset management.
To support fiscal sustainability and economic diversification, the ministry continued shaping future-oriented financial policies. These aim to enhance public spending efficiency, maintain budget balance, and direct investments toward vital sectors.
The ministry’s digital transformation was another highlight. It rolled out a series of advanced tools and AI-powered solutions to improve financial operations, speed up service delivery, and enable a more agile and transparent financial ecosystem. These digital efforts have helped reduce bureaucracy, increase efficiency, and introduce next-generation government services tailored to user needs.
On the global front, the report emphasized the ministry’s growing influence, including its active role in G20 and BRICS summits, and high-level meetings with the IMF and World Bank. The UAE further strengthened regional and international cooperation in sustainable finance, signing multiple agreements to enhance investment flows and trade.
By the end of 2024, the UAE had signed 146 agreements to avoid double taxation and 116 agreements for investment protection and promotion. These milestones reflect the government’s focus on improving competitiveness and financial stability.
Looking ahead, the ministry outlined a forward-thinking strategy centered on financial innovation, sustainable revenue models, and deepening international partnerships. These efforts are aligned with the ‘We the UAE 2031’ vision to reinforce the country’s role as a global leader in finance and investment.