The Arab Monetary Fund and the Arab Gulf Programme for Development sign a memorandum of understanding to coordinate efforts to promote financial inclusion

The Arab Monetary Fund and the Arab Gulf Programme for Development sign a memorandum of understanding to coordinate efforts to promote economic development and achieve sustainable development goals in the Arab region via expanding financial inclusion

Emphasis on supporting the successful implementation of the comprehensive economic reform program signed between the Arab Monetary Fund and the Government of Yemen

The Arab Monetary Fund (AMF) and The Arab Gulf Programme for Development (AGFUND) signed a memorandum of understanding on Wednesday, December 28, to promote economic development and achieve sustainable development goals in the Arab region through boosting financial inclusion and enhancing the role of the financial inclusion. The MOU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation, which contributes to accelerating the economic growth and creating job opportunities in the region, in addition to supporting legislations and supervisions of the financial systems including microfinance. 

The Arab Monetary Fund publishes Guidance Note on “Adopting Smart Contracts and their Legal Enforceability in Arab Countries”

Advantages of adopting smart contracts across different sectors in Arab countries

Assessment of opportunities and risks arising from the implementation of smart contracts for participants and markets

The Arab Monetary Fund (AMF) issued today Monday, December 19th, 2022, a guidance note on “Adopting Smart Contracts and their Legal Enforceability in Arab Countries” prepared by members of the Arab Regional Fintech Working Group (WG), of which the AMF acts as the technical secretariat. This note stems from the AMF's endeavours to promote awareness of the opportunities and risks of adopting smart contracts in various industries in the Arab countries.

ARPCSO (Buna) and The Benefit Company (BENEFIT) Sign Memorandum of Understanding (MoU) to Facilitate Cross-border Payments via Buna and Fawri+

Under the patronage of H.E Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, and H.E Dr. Abdulrahman Bin Abdullah Al Hamidy, Chairman of the Board of The Arab Regional Payments Clearing and Settlement Organization (ARPCSO)

Abu Dhabi, December 8th, 2022: In a ceremony hosted by the Arab Monetary Fund (AMF), Mr. Abdulwahed AlJanahi,  Chief Executive of BENEFIT, the operator of the national electronic payment systems in the Kingdom of Bahrain, and Mr. Mehdi Manaa, Chief Executive Officer of Buna, the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by AMF,  signed today a Memorandum of Understanding (MoU) to establish a framework of cooperation between Buna and BENEFIT.  The ceremony was held under the patronage of H.E Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, and H.E Dr. Abdulrahman Bin Abdullah Al Hamidy, Chairman of the Board of ARPCSO.

Joint Arab initiative to launch cross-border payment service for pensioners in the Arab world via Buna

The first phase includes the Republic of Iraq, the Hashemite Kingdom of Jordan, and the Arab Republic of Egypt

The service aims to support financial inclusion and enhance the user experience by utilizing Buna platform to improve the efficiency of pension payments

The Central Bank of Iraq, the Central Bank of Jordan, the Central Bank of Egypt, and Buna, the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by the Arab Monetary Fund, announced a joint Arab initiative to launch cross-border payment service for pensioners in the Arab world utilizing the Buna system.

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