The main objective of the Task Force is to contribute to the ongoing efforts to enhance financial inclusion in the Arab countries, by assisting national authorities in strengthening their regulations and instruments to expand financial services coverage, enhance financial awareness in the Arab region, and support cooperation between supervisory authorities and relevant international institutions. The Task Force also serves as a platform for exchange of experiences between Arab Central Banks and encourages cooperation in areas related to financial inclusion, leading to the harmonization of Arab countries' views on financial inclusion issues that are being addressed globally.
The Arab Monetary Fund is the technical secretariat of the Arab Financial Inclusion Task Force, as it organizes the meetings. In addition, the Arab Monetary Fund contributes to the preparation of working papers, research and studies in cooperation with the Task Force for submission to the Council of Arab Central Banks and Monetary Authorities’ Governors at their annual meetings.
The Task Force works to enhance collaboration opportunities with the World Bank, the German Agency for International Cooperation (GIZ), the Consultative Group to Assist the Poor (CGAP), the Alliance for Financial Inclusion, and the Islamic Development Bank. Representatives of these international institutions and bodies attend the Task Force meetings, along with representatives of the Union of Arab Banks, Union of Arab Securities Authorities, the Secretariat General of the Gulf Cooperation Council and the Middle East and North Africa Financial Action Task Force (MENAFATF). In addition, other international organizations, such as the Bill & Melinda Gates Foundation (BMGF), the International Finance Corporation (IFC), and the International Monetary Fund (IMF) attend the Task Force meetings.