Bermuda and the United Arab Emirates signed a Memorandum of Understanding [MOU] on ‘Cooperation on Public Finance Management.’
A spokesperson mentioned, “The Premier and Minister of Finance, the Hon. E. David Burt, JP, MP, signed a Memorandum of Understanding [MOU] on Cooperation on Public Finance Management with H.E Mohamed bin Had Al Hussaini, Minister of State for Financial Affairs for the United Arab Emirates [UAE] on the sidelines of the Arab Fiscal Forum [AFF] on the World Government Summit [WGS], at the moment going down within the UAE from 3 to five February.
Premier Burt and H.E Mohamed bin Had Al Hussaini, Minister of State for Financial Affairs for the United Arab Emirates
“The UAE and Bermuda have dedicated to commencing technical discussions following the conclusion of the World Governments Summit, with a view to convening an inaugural assembly in Q3 2026 targeted on areas of mutual curiosity.
“A priority for Bermuda will be leveraging technology that the UAE has already tested and deployed to strengthen how the Ministry of Finance utilises data to support macroeconomic and fiscal policy. Other areas of cooperation include budgetary systems, sustainable finance, and capital markets.”
Regarding the signing of the MOU, Premier Burt mentioned, “The cooperation set out in this MOU is focused on practical improvements that support stability and better value for money in the delivery of public services. The technical discussions and follow-up work will continue after the Summit through technical officials within the Ministry of Finance and their counterparts in the United Arab Emirates, providing continuity within the current Government beyond my term as Premier.”
A spokesperson mentioned, “Following the signing, Premier Burt participated in a closed-room dialogue on the Arab Fiscal Forum on digital transformation in public finance and the scope for AI, alongside:
- H.E. Dr Davit Gamkrelidze, Head of the State Treasury, Ministry of Finance, Georgia
- Mohamed Al Hussaini, Minister of State for Financial Affairs, UAE
- H.E. Khalid Humaidan, Governor, Central Bank of Bahrain
- H.E. Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies, Arab Republic of Egypt
- Roberta Gatti, Chief Economist for the MENAAP Region, World Bank”
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