| Arab Monetary Fund

Arab Monetary Fund Releases The Fifteenth Edition of the Arab Economic Outlook Report Including Updated Forecasts for Growth and Inflation in Arab Economies for 2021 and 2022

2021-11-05

Arab economies are expected to grow by 2.7 percent in 2021, driven by progress in national vaccination programs and the continuation of fiscal stimulus packages, which totaled USD 341.5 billion till September 2021

The Arab Monetary Fund raises its forecast for the economic growth of Arab countries in 2022 to 5.2 percent, reflecting the expected increase in oil production in some major Arab oil exporters and the positive impact of implemented economic reforms

In line with its continuous efforts to support the decision-making process in Arab countries, the Arab Monetary Fund (AMF) has released the Fifteenth edition of the Arab Economic Outlook Report, including updated forecasts for growth and inflation in Arab Economies for 2021 and 2022.

The Arab Monetary Fund publishes “Islamic Fintech in the Arab Region: Imperatives, Challenges and the Way Forward"

2021-11-29

Great opportunities for enhancing Islamic Financial services Industry

in Arab Countries by fostering the use of Financial Technologies

Adequate funding and talent development remain critical success factors for the Shari’ah compliant Fintech industry in the region

The Arab Monetary Fund (AMF) issued today Sunday November 28, 2021, a policy paper on “Islamic Fintech in the Arab Region: Imperatives, Challenges and the Way Forward” prepared by the Arab Regional Fintech Working Group (WG), which AMF acts as the technical secretariat of the group. The paper is issued under the framework of the Fund's endeavours to promote awareness of the requirements for developing Fintech, hand in hand with Islamic Financial Services Industry while supporting digital financial transformation efforts in Arab countries.

The paper aims to provide policy advice on how to adopt these technologies in the Islamic Financial Industry, how to employ them properly, in addition to the related pre-requisites, and how to overcome the implementation challenges. Thereby how to improve the efficiency of Islamic banking and financial services, aiming to support digital financial inclusion in the region.