Event Reports

Member of European Parliament Burkhard Balz visits the UAE

The visit of Burkhard Balz, MEP and EPP expert on Economic and Monetary Affairs, is part of the KAS principles for a better understanding between the GCC and the European Union.

During his visit, Balz gave presentations about “The EU’s current innovations in Financial Market Policy” at the Business School INSEAD and the Dubai International Financial Centre. Here, he introduced the new architecture of the European financial market.

Furthermore, his visit implicated thorough discussions with leading representatives of financial and economic policy in the UAE. His talks with the Governor of the UAE Central Bank Sultan bin Nasser Al Suwaidi and the General Director of the Arab Monetary Fund, Dr. Jassim Al-Mannai, lead to a mutual exchange on the current situation of the GCC monetary union and the position of the Euro on the international financial market.

After his presentation at Dubai International Financial Centre (DIFC), Balz got the chance to learn more about the regulation institution of the DIFC, the Dubai Financial Service Authority. His discussion with CEO Paul Koster was focussed on the regulation of financial markets both in the Gulf region and the European Union in the aftermath of the financial crisis. Due to this, Balz pointed out that the introduction of the EU financial authority was a significant step towards permanent stability and growth within Europe.

Contact Person

Fabian Blumberg

Fabian Blumberg bild

Head of Gulf States Programme

fabian.blumberg@kas.de +962 6 59 24 150