Dubai, UAE – The Arab Monetary Fund (AMF) and Bahrain FinTech Bay (BFB) today took steps to strengthen their partnership, by signing a Memorandum of Understanding (MOU) on the sidelines of Dubai Fintech Summit and the AMF Fintech events in Dubai, UAE. Under the MOU, the two institutions establish a comprehensive framework for collaboration, spanning various critical areas, and how best to leverage their respective comparative advantages to address their shared vision towards building a robust and agile fintech ecosystem and making digital financial services work for financial inclusion and stability across the Arab region. The (MOU) was signed by the HE Fahad Alturki, PhD, Director General Chairman of the Board of the Arab Monetary Fund and Mr. Bader Sater, the Chief Executive Officer of Bahrain FinTech Bay.

Dubai, UAE – The Arab Monetary Fund (AMF) and Dubai International Financial Centre (DIFC), the leading global financial hub in the MEASA region, strengthen their partnership by signing a Memorandum of Understanding (MOU) on the sidelines of Dubai FinTech Summit and the AMF Fintech events in Dubai, UAE. The agreement reaffirms the importance of collaboration and how best to leverage their respective core competencies and comparative advantages in driving financial sector development in the region, through the best use of the new technologies. The MOU was signed by the His Excellency Fahad Alturki, PhD, Director General Chairman of the Board of the Arab Monetary Fund (AMF) and His Excellency Essa Kazim, Governor, Dubai International Financial Centre (DIFC).

Hence, the authorities in the Arab region have given special attention to encouraging saving, by supporting the development of new saving products that suit the needs of individuals, improving the financial infrastructure, and expanding the reach of financial services to all community categories through digital financial services, which contributes to inclusive and sustainable economic development.

The Arab Monetary Fund (AMF) has published an economic study titled "Public debt and economic growth in Arab countries: structural or short-term benefits?”. This research covers twenty-one Arab countries between 1990 and 2021. It investigates if the public debt improves production capacities and long-term growth in the Arab region or if its effects are limited in the short run.