Obaid Al Tayer meets Vice President and Finance Minister of Switzerland

DUBAI, 20th February, 2018 (WAM) — Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs and Ueli Maurer, Swiss Vice President and Finance Minister, have discussed ways to bolster bilateral cooperation and enhance strategic partnership and trade exchange.

The meeting which comes as part of the Ministry of Finance’s efforts to develop the UAE’s network of international relations, was also attended by the delegations of the two countries.

Al Tayer headed the UAE delegation which included a number of officials and experts from the Ministry of Finance; and Ueli Maurer led the Swiss delegation which included Jorg Gasser, State Secretary for International Financial Matters and a number of officials and representatives from entities and private banks in Switzerland.

The meeting was also held in the presence of representatives from UAE regulatory authorities including Mohammed Ali bin Zayed Al Falasi, Deputy Governor of the UAE Central Bank; Dr. Obaid Saif Hamad Al Zaabi, Chief Executive Officer of the Securities and Commodities Authority; Ibrahim Obaid Al Zaabi, Director-General of the Insurance Authority; Thomas Hirschi, Executive Director of Banking and Insurance at ADGM’s Financial Services Regulatory Authority; Pinaki Aich, Vice President of Group Strategy at DIFC Authority, along with representatives from the UAE Central Bank, FAB, Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank and Sharjah Islamic Bank.

Al Tayer welcomed the Swiss delegation, highlighting the positive impacts of such meetings in strengthening cooperative relations between the two parties and supporting future planning; specifically that Swiss companies, banks and financial institutions have an established presence in the UAE, due to its status as a major regional financial centre and the country’s attractive investment climate.

“The bilateral trade relation between the UAE and Switzerland is witnessing significant growth on different levels, and we hope that this meeting will contribute to further fruitful cooperation,” he added.

During the meeting, both parties discussed a number of topics including, economic and trade cooperation, economic advancements, developments in domestic capital markets, financial market regulations and reinsurance in addition to discussions on Fintech and Islamic financial services.


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