Arab Financial Inclusion Day

Theme: "Promoting the Integration of People with Disabilities and Vulnerable Groups into the Formal Financial System" 

The Council of Governors of Arab Central Banks and Monetary Institutions underscored the importance of advancing financial inclusion across the region, emphasizing that the integration of people with disabilities and vulnerable groups into the formal financial system is fundamental to achieving sustainable economic development and promoting social justice. 

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. 

Memorandum of Understanding between the Arab Monetary Fund and the Inter-American Development Bank

H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund (AMF), signed a Memorandum of Understanding with the Inter-American Development Bank (IDB) on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank, held in Washington, D.C.

 

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:

 

The Arab Monetary Fund Signs a Memorandum of Understanding with the Latin American Reserve Fund

H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund (AMF), signed a Memorandum of Understanding with the Latin American Reserve Fund (FLAR) on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank, held in Washington, D.C.

 

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.

Dr. Fahad M. Alturki Holds a Series of Bilateral Meetings with Arab Finance Ministers on the Sidelines of the Annual Meetings of Arab Financial Institutions in Kuwait

Dr. Fahad M. Alturki Continues to Strengthen Arab Financial Cooperation Through Bilateral Meetings with Ministers and Financial Institution Officials on the Sidelines of the Annual Meetings of Arab Financial Institutions in Kuwait.

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.

The Arab Monetary Fund Supports the Development of Financial Statistics in Kuwait

The Arab Monetary Fund (AMF) has provided technical assistance to the Central Administration of Statistics in the State of Kuwait to enhance financial and banking sector data by relying on administrative records as an alternative to traditional surveys.

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.

Arab Monetary Fund Releases its 2024 Annual Report

The Arab Monetary Fund (AMF) has published its 2024 Annual Report, outlining the institution’s continued efforts to support its member states throughout a year marked by significant regional and global challenges. The Board of Governors approved the report, which highlights key achievements reflecting the Fund’s commitment to promoting financial and economic stability and fostering inclusive and sustainable growth across the Arab region.

 

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.

 

Arab Monetary Fund and Somalia Sign MoU on Debt Restructuring

As part of ongoing efforts to support member countries and promote financial stability, a Memorandum of Understanding was signed between the Arab Monetary Fund and the Federal Republic of Somalia. The MoU aims to restructure the debt owed by Somalia to the Fund, thereby contributing to easing the financial burden and strengthening Somalia’s ability to stay on course with economic reform and sustainable development.

 

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.

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