Abu Dhabi to host Microcredit meet

Abu Dhabi / WAM

Global policy makers and microfinance experts will convene in Abu Dhabi from March 14-17 to explore and discuss innovative financial inclusion strategies that can create clear pathways to economic and
social inclusion.
Under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, the summit will explore how new and effective financial policies can contribute to the success of the Universal Financial Access 2020 goal, the World Bank 2030 goals, and the UN Global Goals.
The event will be held at Jumeirah Etihad Towers and is organised jointly by the Khalifa Fund for Enterprise Development, the Arab Gulf Programme for Development,
AGFUND, and the Microcredit
Summit Campaign.
The conference programme will commence with keynote speeches by Prince Talal Bin Abdul Aziz, Chairman of AGFUND, Queen Sofia of Spain, Sultan bin Saeed Al Mansouri, Minister of Economy, Prof. Muhammad Yunus, Grameen Bank Founder, Nobel prize winner and Chairman of the Yunus Centre in Bangladesh, Hussain J. Al Nowais, Chairman of the Khalifa Fund for Enterprise Development, and Larry Reed, Director of the Microcredit Summit Campaign in the USA.
The summit will recognise more than 35 Campaign Commitments launched throughout 2015 by members of the campaign. Their commitments describe specific programmes they will deliver in the next 12-18 months that improve people’s lives through enhanced opportunity and financial and social inclusion.

The Chairman of the Khalifa Fund for Enterprise Development said, “Financial access and social inclusion are fundamental to building strong families, strong communities, and strong economic development. We are proud to be a part of Microcredit Summit as it’s in line with our strategic objectives at Khalifa Fund. This reflects not only the need to include experts from the Middle East and Africa in these important global discussions, but also the leadership role the UAE is playing in international development and cooperation.”

Al Nowais added that the SME sector plays a key role in transforming the economy and increasing the participation of UAE nationals in the private sector workforce, stressing that Abu Dhabi is seeking to expand its project base and enhance its competitive spirit, as these are two of the strategic goals set in the 2030 economic vision.

The Director-General and Chairman of the Arab Monetary Fund commented, “By speeding the dissemination of good ideas, the summit is ensuring that organisations involved in improving financial access are applying the very latest and most effective approaches.”

The CEO of AGFUND is optimistic about the summit results, and commented, “The summit partners have succeeded in developing a strong agenda that helps improve access to financial tools and systems for the most marginalised segments of society. The precise arrangements and diversity of experiences will enable participants to discuss issues in depth.”

The Director of Microcredit Summit Campaign said, “The summit will highlight Campaign Commitments, which are pledges to specific and measurable actions, from member organisations to implement programmes that will help expand both financial and social inclusion.”

The Arab Monetary Fund will host a meeting of Central Bank Governors with 17 member country representatives, discussing the process of aligning their regulatory regimes to facilitate microfinance and other financial inclusion tools such as digital transaction platforms, government cash transfers, and other programmes serving the socially and financially excluded.

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