The Arab Monetary Fund Releases a Study on Climate Change and Economic Growth in Arab Countries

The Arab region is one of the regions most heavily impacted by worldwide climate changes.

Major Contributors: Increased CO2 levels and land cover changes mainly drive climate-related economic impacts.

The Arab Monetary Fund (AMF) has published an economic study titled "Climate Change and Economic Growth in Arab Countries”. This comprehensive research investigates the impact of climate change on the economic prosperity of twelve Arab countries from 2010 to 2019, using advanced econometric models to analyze data on surface temperature, carbon dioxide concentrations, land cover changes, and annual precipitation.

Key findings reveal that climate change hampers economic growth in the region, with carbon dioxide levels and land cover changes identified as major contributing factors. The study underscores the urgent need for Arab nations to adopt and implement robust policies and strategies to mitigate the adverse effects of climate change to ensure sustainable economic growth.

Arab Payment Week (APW) Event to be held in Abu Dhabi

This 3-days event will bring together the financial community to drive financial inclusion and promote collaboration and innovation 

Abu Dhabi, February 26, 2024: The Arab Payment Week (APW), which is scheduled on February 26-28, 2024, provides a platform for policymakers, regulators, and payment system practitioners to convene and exchange insights on developing and strengthening domestic and cross-border payment innovation and practices. 

With a focus on cooperation opportunities, the APW will drive innovation and promote broader adoption of digital financial services to shape the future of payments in the Arab region and beyond. 

Accountant

The Arab Monetary Fund (AMF) is a regional financial organization headquartered in Abu Dhabi, United Arab Emirates, with the primary goal of establishing monetary foundations for Arab economic integration and accelerating economic development in Arab countries. Through this announcement, the Fund aims to recruit an "Accountant" in the Finance Department.

Main Responsibilities:

Under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum - the inauguration of “ARPCSO” (Buna Payments) at the World Governments Summit 2024

Dubai, February 12, 2024: Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Buna (The Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”) was inaugurated during the World Governments Summit, hosted by the UAE. 

 

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance opened the ceremony which was attended by their excellencies senior officials from the UAE government, Governors of Central Banks from different countries, and senior leaders from the financial sector. Wishes were extended to Buna for a continued success in their mission to support economic development and financial integration in the Arab world and stronger ties with its key trade partners. 

During the session, H.E. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, welcomed the attendees and thanked the UAE leadership for their support. He stressed that hosting Buna reinforces the UAE’s central role as a catalyst for cooperation between the Arab nations and as a global hub for trade and investments in line with the UAE leadership’s directives.

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