Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs inaugurated an event organised by the Ministry of Finance (MoF) as part of its participation in the UAE Innovation Month 2022, under the slogan ‘MoF Innovates 2022: Journey into the Future of Finance’.
In his opening speech, Younis Haji Al Khoori, Under-Secretary of MoF, reaffirmed that innovation is considered a lifestyle and a national core that provides the basis for the country in its national directions and strategies. This is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, when he said:
"Innovation is not an option but a necessity. It is not a culture but work style, and governments and companies that do not innovate risk losing their competitiveness and falling far behind."
"Our country’s innovation strategy boosted its competitiveness on a global level, through investing in the development of minds and resources, and adopting creative ideas and innovative practices. The UAE ranked number one in the Arab World in the Global Innovation Index 2021 for the sixth consecutive year, thanks to the programmes, events, initiatives, and joint efforts aimed at instilling innovation to build a diverse, competitive, and sustainable knowledge-based economy."
In her speech, Fatima Yousif Alnaqbi, Acting Assistant Under-Secretary for Support Services Sector at MoF, reaffirmed that the United Arab Emirates is one of the leading countries in supporting and financing innovation through various initiatives and events, foremost of which is the ‘UAE Innovates’. This event focuses on enhancing the community’s role in establishing future initiatives, mobilising efforts to instill the culture of innovation as a community practice, and encouraging talented people to unleash their creative ideas. This is in order to devise innovative solutions and initiatives that contribute to improving the life of the community members, and boost the UAE’s competitiveness capabilities on a global level.
Al Naqbi added,
"The country adopted effective policies and launched sound strategies to instill the culture of innovation in economy and in solving economic and social difficulties. These strategies include providing finance for innovation programmes, building specialised national capabilities, empowering private sector companies, and increasing investment in research and innovation sectors. All of which will lead to creating innovative solutions that support the UAE’s journey towards the future, and achieve the objectives of centennial in 2071."
The event hosted a group of speakers, experts and intellectuals to share their experiences and knowledge in the financial sector, including Dr. Jerome Glenn, Futurist, Global Scenario Planning Expert, Chairman & CEO of the Millennium Project; Dr. Suad Al Shamsi, UAE’s First Female Aviation Engineer; Raya Bidshahri, Founder & CEO, School of Humanity; Joel Van Dusen, Innovation & Fintech Expert, Head of Corporate & Investment Banking at Mashreq Bank; Saqr Ereiqat, Co-founder & Managing Partner, Crypto Oasis; and Mirna Sleiman, Founder & CEO, Fintech Galaxy.
News Source: Emirates News Agency