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Six Arab stock markets posted gains, driven by strong performance in telecommunications, pharmaceuticals, technology, and banking sectors. Meanwhile, seven others declined under pressure from drops in the energy, financial services, and transportation sectors. Dubai Financial Market led the gains with a 4.14% increase, followed by Iraq’s market with 3.46%. In contrast, Muscat, Kuwait, and Palestine saw losses ranging between 1.16% and 1.64%, while Bahrain, Saudi Arabia, Casablanca, and Amman recorded deeper declines, reaching up to 5.6%.

At the start of the month, the U.S. tariff announcement triggered a global sell-off, impacting indices like the S&P and NASDAQ, which dropped by 9% to 13.7%. However, the subsequent decision to suspend the tariffs for three months helped pare losses, particularly in emerging markets, which rebounded by around 6.26%, followed by gains in Europe and Asia.

The strategy represents a major step forward in broadening access to financial services across the country, particularly digital solutions. It places a strong focus on reaching underserved segments of the population, including women, youth, and small and medium-sized enterprises. Key objectives include raising the percentage of adults with bank or digital accounts to 50% by 2030 (up from 11% currently), reducing the gender gap in access to financial services to 3.5 percentage points, and increasing the use of digital payments to 85%.

The Arab Monetary Fund played a key role in supporting the strategy’s development by providing technical expertise and advancing regional coordination through the Financial Inclusion for the Arab Region Initiative (FIARI), which it leads in collaboration with international partners.

The partnership agreement was signed by Dr Fahad Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, and Dr Ghiath Shabsigh, Secretary-General of the IFSB. The agreement formalises a strategic collaborative framework in four key areas: policy advice, capacity development, knowledge sharing and research, and analytical support for the AMF’s regional engagements and initiatives.

Aligned with both organisations’ strategies, the IFSB Strategic Plan 2025–2027, and the AMF Strategy 2025-2030, the agreement enhances both institutions’ ability to deliver technical assistance, support the adoption of global prudential standards, and facilitate the development of robust, sound, and inclusive Islamic finance sector in the region. It also builds on previous cooperation between the two institutions, expanding their joint efforts to address evolving sectoral challenges through structured and scalable engagement.

On this occasion, H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund, commended the ongoing efforts of Arab central banks and monetary authorities to enhance the resilience of the financial and banking sector. He highlighted their strides in strengthening regulatory frameworks, advancing prudential policies, and aligning with global standards and best practices. He also noted the importance of the topics on the Committee’s agenda and the valuable insights they offer.

H.E. Dr. Alturki further welcomed the participation of regional and international financial institutions, underlining the important role such engagement plays in enriching discussions. He concluded by reaffirming the strong interest and support of the Governors of Arab central banks in the Committee’s work and its essential contribution to the exchange of expertise and experiences across the region.

In this context, the AMF's Composite Index, which measures the overall performance of stock markets in Arab countries, recorded a 1.55% increase by the end of the first quarter of 2025 compared to the end of the fourth quarter of 2024. On an annual basis, the index achieved a growth rate of 4.37%.

At the individual market level, five Arab exchanges registered gains in their performance indicators during the first quarter, while ten exchanges saw declines during the same period. The Casablanca Stock Exchange led the list of top performers with a rise of 20.19%, followed by the Tunis Stock Exchange (10.25%), Kuwait (9.66%), Egypt (7.68%), and Amman (6.12%).

On the other hand, the stock markets of Saudi Arabia, Palestine, and Abu Dhabi posted slight declines of less than 1%. Seven other Arab exchanges experienced drops ranging from 1.21% in the Dubai Financial Market to 12.69% in the Beirut Stock Exchange.

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.