The UAE national will represent the Arab Group and the Maldives on the IMF Executive Board.
The UAE has a new first on the global finance stage. Ali Alhosani has been elected Executive Director at the International Monetary Fund (IMF), the first Emirati to hold the post.
He will represent the Arab Group and the Maldives on the IMF Executive Board, one of 25 directors who help shape the fund’s decisions on lending, policy, and support for member countries.
The news was announced on Friday, October 16, by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
UAE Finance Leaders Welcome IMF Executive Director Election
Sheikh Maktoum said the election reflected the UAE leadership’s vision for the country’s role in the global economy and in international financial decision-making. He said it also showed international confidence in Emirati expertise.
“This step sends a clear message about the strength of the UAE’s economic model,” he said, Khaleej Times reported. He also praised Emirati talent and wished Alhosani success in his new role.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said the election showed the UAE’s aim to expand its presence in international financial institutions. He added that it reaffirmed the country’s support for the Sustainable Development Goals and for the stability of the global financial system.
The appointment comes as the UAE prepares to host the 2029 Annual Meetings of the World Bank Group and the IMF.
Ali Alhosani’s Background and Role on the IMF Executive Board
Alhosani is no stranger to the IMF. He has served as an Alternate Executive Director at the fund since 2021.
Before that, he worked as an adviser to an executive director at the World Bank Group. He was also a portfolio manager at the International Finance Corporation in Washington, DC.
Earlier in his career, he worked in the Strategic Affairs Office of the Abu Dhabi Crown Prince Court and at the Abu Dhabi Investment Council.
He holds a master’s degree in international commerce and policy from George Mason University and a bachelor’s degree in economics from American University, both in the US. He has also completed an executive leadership program at Harvard.
In his new role, Alhosani is expected to focus on strengthening the IMF’s work in financing, economic assessments, and capacity building, particularly for countries facing crises. He also plans to build partnerships with other member groups and share the UAE’s experience in developing its financial and monetary system.
The IMF Executive Board handles the fund’s day-to-day business. Its directors are elected by individual member countries or by groups of countries. They give strategic guidance to IMF management and discuss and approve matters involving member states, including financing programs.
The fund currently has a lending capacity of nearly $1 trillion.
