News And Press Releases

On this occasion, Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund, emphasized the critical role Arab central banks play in promoting financial stability. He praised their efforts in assessing systemic risks, enhancing the resilience of the banking sector to shocks, developing regulations and precautionary policies, and implementing best international standards and practices.

Dr. Alturki also highlighted the strong interest of the Governors of Arab Central Banks in the task force’s activities and the vital role it plays in facilitating the exchange of expertise and experiences among Arab countries. He commended the team’s outstanding efforts in preparing and developing the Financial Stability Report, which strengthens regional cooperation and contributes to achieving sustainable economic stability.

The AMF also launched an executive program in collaboration with Harvard University on financial market supervision, which will run until June 2025. The program is designed to deepen understanding of financial policies and market regulation, with a particular focus on technological advancements and digital innovation in the financial sector.

Through these initiatives, the Arab Monetary Fund reaffirms its ongoing commitment to developing Arab talent as a capacity-building institution, supports efforts to achieve financial stability and economic growth, and enhances the competitiveness of Arab economies in global markets.

The announcement by FTSE Russell of the quarterly review results for emerging market indices - which included the addition of new Arab companies to the index - played a significant role in supporting the performance of several Arab stock exchanges. Arab exchanges continued their efforts to expand market bases by upgrading companies from secondary and parallel markets to the main markets.

On the other hand, four Arab stock exchanges saw declines in performance due to weaker activity in key sectors, particularly telecommunications and basic materials. The commercial and consumer services sectors also  

faced downturns in several exchanges, negatively impacting trading volumes.

The report covers key economic developments in Arab countries during 2023, with a focus on the impact of global economic conditions on the region. It includes an integrated analysis of the performance of major economic sectors, such as oil and energy, public finance, foreign trade, and financial markets. In addition, it evaluates balance of payments, external public debt, and exchange rates, offering a clear view of the economic challenges and opportunities facing Arab countries.

In a forward-looking approach aligned with global trends, the report features a key chapter titled: "Digital Transformation in Arab Economies: Opportunities and Challenges." This chapter explores the importance of digital transformation as a pivotal factor for economic growth and sustainable development, while highlighting the challenges Arab countries face in accelerating digital transformation and adopting modern technologies.

The Arab Monetary Fund emphasizes that “ISTISHARA” reflects its commitment to the values of empowerment and sustainable development by enabling member countries to access top global expertise and enhancing cooperation to achieve shared economic goals.

For more information, please visit the following link: ISTISHARA

The glossary consists of 13 chapters covering various financial technology terms,  such as Artificial Intelligence, Distributed Ledger Technology, Cloud Computing, and Data Security. The total number of terms in this edition has grown to 2426 terms, compared with 1070, in the previous edition.

His Excellency Dr. Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, emphasized that the release of this glossary reflects the AMF's commitment to keeping pace with technological advancements and supporting Arab countries in adopting modern financial systems. He noted that the glossary contributes to enhancing awareness of financial technology, encouraging innovation, and improving access to digital financial services.

By implementing these programs, the AMF supports Arab institutions to effectively navigate while aligning with international best practices. This initiative plays a key role in promoting sustainable economic growth and strengthening the resilience of Arab economies.

A series of training programs and workshops were organized, bringing together 206 participants from different Arab countries. These sessions focused on a range of economic and statistical topics to strengthen knowledge and practical skills.

Through these initiatives, the AMF aims to assist Arab institutions in navigating current challenges by providing relevant training aligned with global best practices, ultimately contributing to sustainable economic growth in the region.

H.E. Dr. Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, noted the importance of the group's activities and meetings in supporting the development of modern financial technologies. He emphasized that developing this sector is a priority for supporting Arab economies in addressing current challenges. He also reiterated the AMF’s commitment to supporting financial innovations as part of its strategy to promote financial stability and economic development.