The UAE will host the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in 2029 in Abu Dhabi, about 26 years after the country hosted the same in 2003 in Dubai.
The news comes at a time when the UAE banking assets reached its highest value, to Dh5.4 trillion (US$1.47 trillion), and foreign reserves jumped 23.4 percent to Dh1.05 trillion (US$285.55 billion) in 2025.
Annual Meetings of the IMF and World Banks are usually held in September every year – twice in the USA while once in three years this event is held outside the country that hosts both the global institutions. Countries and cities bid to host the Annual Meetings for the once-in-three-years event, which is usually decided on a voting process.
The UAE was selected to host the global event after securing the highest number of votes as part of an international evaluation process, demonstrating global trust in the country’s economic power, institutional readiness, and its stable and resilient economic environment. Dubai hosted it at the Dubai World Trade Centre in 2003.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai said: “In a global vote that reflects international confidence and underscores the UAE’s strong financial standing, the UAE has been chosen to host the 2029 Annual Meetings of the World Bank Group and the IMF in Abu Dhabi, a clear reflection of the strength and capability of its people.”
The decision reflects Abu Dhabi’s growing status as a regional economic powerhouse that also hosts the Arab Monetary Fund headquarters.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, stressed that hosting the 2029 Annual Meetings is in line with the country’s strategic vision of strengthening international partnerships and reinforcing its role as a key hub supporting global financial and economic stability.
“This global event will provide a significant platform to promote constructive financial and economic dialogue among countries worldwide. We are committed to providing an ideal environment that leads to tangible outcomes supporting sustainable development and strengthening global financial and economic integration,” he said.
UAE Banks Federation (UBF) reaffirmed that the selection of the UAE to host World Bank Group and IMF Annual Meetings for 2029 reinforces the country’s position as a global financial and economic hub, and its vital role in supporting efforts and initiatives for comprehensive and sustainable development and financial stability at the international level.
AbdulAziz Al-Ghurair, Chairman of UBF, said: “The selection of the UAE to host this global event affirms the international community’s confidence in UAE’s position and its ability to lead such global dialogues. With its advanced infrastructure, organisational capabilities, and expertise in organising global events, as well as its financial and economic policies, the UAE has established itself as a leading economic and financial hub globally.
“Over the past few years, the UAE has been able to develop a stable and resilient economic environment, and balanced fiscal and monetary policies. The financial and banking sector is a key pillar in achieving the country’s strategic objectives and sustainable development goals. We are proud that the UAE is the only country in the Middle East and Africa to be selected to host this meeting, which is held every three years outside the headquarters of the World Bank and the International Monetary Fund, for the second time since Dubai hosted this meeting in 2003. We are committed to working with strategic partners and member banks, under the direct supervision of Central Bank of the UAE, to support all efforts related to these meetings in line with UAE’s position as a leading destination in organising events and leading constructive dialogues to develop economic and financial policies.”
He pointed out that this selection of the UAE comes in addition to many important events in the financial and banking field which the UAE will host in the same year, such as SIBOS 2029 annual conference which is organised by the Society for Worldwide Interbank Financial Telecommunication (Swift), is a testament to global confidence in UAE’s leading position and its vital role in leading initiatives to develop the financial and banking sector.
The UAE is also the first and only country in the Middle East and Africa region to be selected by Swift to host SIBOS Conference and Exhibition, as Dubai had previously hosted the conference in 2013. Sibos is being held in several global financial hubs such as Singapore, Geneva, Toronto, London, Amsterdam and Beijing.
Also published on Medium.
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