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

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.

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.