Ministry of Finance Participates in First BRICS Finance Ministers and Central Bank Governors Meeting under India’s Presidency

Mohamed bin Hadi Al Hussaini: Strengthening multilateral action and financial cooperation among BRICS countries supports a more balanced and inclusive global economic system

Jaipur, India, 12 August 2026:

The Ministry of Finance is participating in the first BRICS Finance Ministers and Central Bank Governors Meeting, being held in Jaipur, India, on 12 and 13 August 2026, as part of India’s 2026 BRICS Presidency.

His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, is attending the meeting alongside finance ministers and central bank governors from BRICS member countries, as well as heads of regional financial and development organisations.

The meeting will discuss a range of priority economic and financial issues, including the global economic outlook, strengthening cooperation among member countries in addressing economic challenges, reforming global economic governance, public-private partnerships, infrastructure financing, tax and customs cooperation, and a number of financial issues of common interest.

H.E. Mohamed bin Hadi Al Hussaini stressed the importance of stronger coordination and cooperation among BRICS countries to support sustainable economic growth and strengthen the resilience of emerging and developing economies in the face of global challenges.

His Excellency highlighted the need to continue joint efforts in productivity-enhancing reforms, private capital mobilisation and the development of domestic capital markets, alongside increased financing for development and further reforms to international economic governance to ensure fairer representation of emerging and developing economies in international financial institutions.

Al Hussaini said: “BRICS provides an important platform for advancing multilateral action and developing shared responses to global economic and financial challenges. The UAE believes it is essential to build on the outcomes of the technical working groups and ensure continuity of the initiatives launched under India’s Presidency. This will help sustain the long-term impact of financial cooperation among BRICS countries and contribute to shaping a more balanced and inclusive global economic system.”

The UAE is presenting a number of national best practices and initiatives that helped shape the Group’s technical outcomes, particularly in public-private partnerships, sustainable infrastructure financing, artificial intelligence, digital transformation, climate finance, private capital mobilisation and the development of domestic financial markets.

These contributions reflect the UAE’s continued efforts to advance sustainable economic development and promote financial innovation.

On the sidelines of the meeting, the UAE is participating in a number of high-level events, including a seminar on the role of the New Development Bank in mobilising private capital across member countries.

In addition, the UAE is participating in a workshop on resilient growth in emerging economies, which addresses integrating risk financing and strengthening infrastructure resilience to enhance the ability of emerging economies to respond to growing challenges and risks.