Feb 13, 2024
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,...
Nov 23, 2023
The Arab Monetary Fund Releases the 19th Edition of the Arab Economic Outlook Report, including an update on economic growth and inflation expectations in Arab countries for 2023 and 2024.
Key Highlights of the Report:Economic Growth Projections: The growth rate of Arab economies in 2023 is projected to be around 2.2 percent, decreasing from about 5.8 percent in 2022 due to the tightening of monetary policy, the decline in oil production, and the recent developments in the region. However, a recovery is expected in 2024, with growth...
Nov 21, 2023
The Board of Governors of the Arab Monetary Fund (AMF) accepts the resignation of H.E Dr. Abdulrahman A. Al-Hamidy as Director General Chairman of the Board and appoints H.E. Dr. Fahad Mohammed A Alturki
The Board of Governors of the Arab Monetary Fund (AMF) accepts the resignation of H.E Dr. Abdulrahman A. Al-Hamidy as Director General Chairman of the Board and appoints H.E Dr. Fahad Mohammed A Alturki as the new Director General Chairman of the Board of the AMF for the period to March 2029.The Arab Monetary Fund management welcomes the...
Nov 07, 2023
Banks go live with the Buna’s Payment versus Payment (PvP) Service, providing safer settlement of foreign exchange (FX)
The service is now operational in collaboration with Abu Dhabi Commercial Bank and Jordan Ahli Bank as the first users.Adopting PvP as FX settlement mechanism contributes to the global effort led bythe Group of Twenty (G20) to enhance cross-border payments.
Nov 04, 2023
The Arab Monetary Fund (AMF) and The State Bank of Pakistan (SBP) Sign a Memorandum of Understanding (MoU) to Facilitate Cross-border Remittances between the Arab region and Pakistan.
The MoU aims to create cross-border interlinking viaBuna and Raast the respective instant payment systems of the Arab region and Pakistan.This arrangement will help achieve greater financial inclusion and strengthen economic, financial, and investment ties between the Arabregion and Pakistan.
Latest Arab World's Economic News and Financial Status
RatesArab Accounting Dinar
- The Arab Accounting Dinar
- is the official currency
- of the Arab Monetary Fund
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- Last Updated
- Feb 22, 2024
Lending for Arab Countries
- of the funding
- Since the begining of 2020
The events and workshops organized by the Arab Monetary Fund
Initiatives and Work Groups
Committees and Work Groups emanating from the Board of Governors of Arab Central Banks and Monetary Institutions
The Arab Committee on Banking Supervision (ACBS) was established in 1991 by the Council of Governors of Arab Central Banks and Monetary Agencies.
The Council of Governors of Arab central banks and monetary agencies decided in its 2004 annual meeting, to establish the Arab Committee on Payment and Settlement Systems (ACPSS).
The Council of Arab Central Banks and Monetary Authorities’ Governors decided in 2015 to establish the Arab Committee on Credit Information.
The Council of Arab Central Banks and Monetary Authorities’ Governors decided in 2014 to establish, the Financial Stability Task Force (FSTF). The Task Force is composed mainly of Directors in charge of financial stability issues at Central Banks in the region and meets at least twice a year
The main objective of the Task Force is to contribute to the ongoing efforts to increase financial inclusion in the Arab countries, by assisting national authorities in strengthening their regulations and instruments to expand financial services coverage, enhance financial awareness in the Arab region...
A working group comprising technicians and experts from the Arab countries from the public and private sectors in addition to experts from regional and international financial institutions, service providers and leading organizations in Fintech industry at the international level.
FIARI is a key driver for increasing financial inclusion and translating the willingness of the Arab Monetary Fund to strengthen the technical assistance and the capacity development to support member states and make efforts to provide financial services to Arab countries.
The initiative to develop debt markets in Arab countries is a joint project between the Arab Monetary Fund (AMF) and the International Monetary Fund (IMF), which aims to promote and enhance the functioning of both, government and private, debt markets in the Arab countries.
The Arab initiative has for mission to assist Arab countries to strengthen, improve and adapt their statistical system and also involves the promotion and harmonization of statistics among Arab countries through the use of identical methodologies, concepts, definitions and classifications.
The Arab Monetary Fund focuses on implementing a set of qualitative activities and interventions with a strategic dimension in the areas of the digital economy related to the Fund's work and its establishment agreement.