News And Press Releases

The Council noted that access to financial services, including bank accounts and loans, plays a crucial role in improving living standards, supporting the financial independence of targeted groups, and reducing poverty rates. It further highlighted that the inclusion of these segments fosters innovation in the development of financial services and contributes to reinforcing economic stability. 

The Council also drew attention to the growing number of initiatives launched by public institutions and the private sector in Arab countries to enhance access to financial services for people with disabilities and vulnerable groups, through the enactment of supportive legislation and the development of tailored financial products. 

The MoU aims to strengthen cooperation between the two institutions in several key areas, including the exchange of expertise on economic policies, support for the global financial safety net, collaboration on capacity building, statistics, and technical assistance, as well as the preparation of joint economic studies.

H.E. Dr. Alturki affirmed that this partnership aligns with the AMF’s strategic approach to expanding its relationships with regional and international financial institutions, thereby enhancing its role in supporting financial stability and achieving sustainable development in Arab countries.

The MoU aims to strengthen cooperation on strategic issues related to financial development in Latin America, the Caribbean, and the Arab region by focusing on three key areas:

This cooperation took place through a technical mission carried out during the first quarter of 2025, which focused on improving the accuracy and efficiency of financial data collection using information available from official entities such as banks and insurance companies.

As a result of these efforts, a reliable time series of financial sector data was developed, covering the period from 2019 to 2023. This contributes to supporting national accounts in line with the 2008 System of National Accounts (SNA) recommendations and enhances economic decision-making. The work processes and methodology were also documented to ensure continuous data updates in accordance with the revised approach.

This initiative aligns with the AMF’s broader strategy to enhance institutional capacities in member countries and support their adoption of international best practices in statistics and economic reporting.

The report provides a comprehensive overview of the AMF’s financial and technical activities during the year. It includes the provision of financial assistance to several member countries, underscoring the Fund’s active role as a responsive lender aligned with development priorities. The AMF also offered specialized technical advice, studies, and economic analyses, reaffirming its position as a respected knowledge partner in shaping sound financial and economic policies in the region.

The report also sheds light on the AMF’s growing strategic role in reinforcing financial sector stability and advancing economic integration, further establishing its standing as a key partner in the region’s shared development goals. The AMF’s commitment to human capital development was also emphasized, with 75 training programs delivered in 2024, benefiting over 2,336 participants from various official institutions—highlighting the Fund’s leading role in institutional capacity-building.

H.E. Dr. Fahad M. Alturki, Director Director General Chairman of the Board of the Arab Monetary Fund, held a series of bilateral meetings with a number of esteemed ministers and governors of Arab central banks, during his participation in the annual meetings of Arab financial authorities held in the State of Kuwait.

The meetings included:

• H.E. Mr. Yahya Shunnar, Governor of the Palestine Monetary Authority;
• H.E. Dr. Youssef El Khalil, Minister of Finance of the Republic of Lebanon;
• H.E. Mr. Fethi Zouhair Nouri, Governor of the Central Bank of Tunisia;
• H.E. Mr. Sid’Ahmed Ould Bouh, Minister of Economy and Finance of the Islamic Republic of Mauritania.

During these meetings, H.E. Dr. Alturki discussed the Arab Monetary Fund’s new strategic directions, aimed at enhancing its role as a catalyst for financial stability and sustainable economic growth, in addition to being a key partner in institutional capacity-building across member countries.

H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund, affirmed the AMF’s commitment to supporting its member countries and facilitating an environment conducive to achieving economic stability and growth.

It is worth noting that Somalia’s debt has spanned over 40 years, and this adjustment is part of the AMF’s new strategy aimed at supporting Arab countries.

In his remarks during the meetings, H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund, emphasized the AMF's important role in promoting Arab financial cooperation, supporting economic stability, offering advisory services, and building capacities for Arab countries with the aim of achieving sustainable development.

These meetings serve as an important annual platform for the exchange of views and experiences among economic decision-makers in the Arab world, and for discussing key challenges and opportunities facing Arab economies, contributing to enhanced economic and financial integration among member countries.

The meetings included H.E. Mr. Ibrahim Mohamed Abdul Razak, Minister of Finance of the Comoros; H.E. Dr. Gibril Ibrahim Mohamed, Minister of Finance and Economic Planning of the Republic of Sudan; H.E. Mr. Mohammad Yisr Bernieh, Minister of Finance of the Syrian Arab Republic; and H.E. Mr. Abdelkarim Bouzred, Minister of Finance of the People's Democratic Republic of Algeria.

During the discussions, Dr. Alturki reviewed opportunities to further strengthen the Arab Monetary Fund’s support for its member countries within the framework of its new strategic direction, which positions the AMF as a strategic partner and enabler of institutional capacity-building for sustainable growth. Topics on the agenda included the resolution of arrears and non-performing debts, cooperation on digital transformation, and ways to enhance the credit ratings of Arab countries.

The opening session will be chaired by His Excellency Mr. Sultan bin Salim Al Habsi, Minister of Finance of the Sultanate of Oman. The meetings will include delegations from Arab countries, a select group of senior officials and pioneering economists engaged in public debt management, finance ministers, leaders of Arab financial institutions, and heads and governors of each of the participating institutions: the Arab Monetary Fund, the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Bank for Economic Development in Africa, and the Arab Authority for Agricultural Investment and Development.