News And Press Releases

Arab Monetary Fund's Latest News and Press Releases

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The Arab Monetary Fund (AMF) Organizes the 12th Meeting of the Arab Regional Fintech Working Group on Modern Financial Technologies

November 27–28, 2024, Abu Dhabi: The 12th periodic meeting of the Arab Regional Fintech Working Group on Modern Financial Technologies commenced today. Held virtually over two days, the meeting aims to enhance cooperation and knowledge exchange among experts and technical professionals from Arab countries. It features broad participation from representatives of central banks and monetary authorities in the Arab region, ministries of finance, capital market authorities, and Arab stock exchanges.

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.

October 2024 Training and Capacity Building Institute Activities

268 Arab professionals participated in the training programs and activities organized by the Arab Monetary Fund (AMF).

Throughout October 2024, a total of 268 Arab professionals took part in the activities and programs organized by the Training and Capacity Building Institute of the AMF.

This month’s lineup included eight training courses and a workshop, aligned with the AMF’s mission to advance economic and financial stability, while enhancing the knowledge and skills of Arab professionals across various fields relevant to economic growth and sustainable development.

The Arab Monetary Fund Holds the 11th Technical Committee Meeting of the Arab Statistics Initiative (ArabStat) to Discuss Statistical Developments

Abu Dhabi, November 13–14, 2024: The Arab Monetary Fund organized the 11th Technical Committee Meeting of the Arab Statistics Initiative (ArabStat). The meeting, which took place on November 13 and 14, 2024, discussed emerging statistical topics, including the use of artificial intelligence in statistical work, digital economy statistics, developments in modern financial technologies, the use of administrative records for statistical purposes, and more.

In this context, H.E. Dr. Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, emphasized the importance of the initiative and the significant role it plays in sharing experiences and expertise. He highlighted its contribution to enhancing coordination among Arab countries in the field of statistical work.

Letter of Intent between the Arab Monetary Fund and the Palestinian Government

H.E. Dr. Fahad M. Alturki

signs the Letter of Intent between the Arab Monetary Fund and the Palestinian government concerning the governance of the financial support program provided by the Kingdom of Saudi Arabia to the State of Palestine. 

This initiative aims to support the Palestinian people by strengthening the economic situation to address current challenges.

The Arab Monetary Fund (AMF) Organizes the 27th meeting of the Financial Inclusion Task Force (FITF) to Promote Financial Inclusion in Arab Countries

The Arab Monetary Fund (AMF) hosts the 27th meeting of the Financial Inclusion Task Force (FITF) to promote financial inclusion, scheduled for October 30 and 31, 2024. This 2-day event brings together key stakeholders to discuss various pressing topics, including the role of central banks and payment service providers in advancing financial inclusion, improving cross-border remittance services through digital solutions, and implementing financial consumer protection measures to ensure financial system stability.

The meeting discusses policies and programs aimed at enhancing financial inclusion for youth, women, and underserved regions, and emphasizes the importance of digitizing government payments to increase access to financial services. Participants will review financial inclusion indicators in the Arab region and outline plans for the 2025 Arab Financial Inclusion Day.

H.E. Dr. Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund, highlighted the significance of this meeting as an essential opportunity to enhance coordination among Arab countries in matters of financial inclusion.

Training and Capacity Building Activities for September 2024

433 Arab professionals participated in the programs and activities of the Arab Monetary Fund.

During the month of September 2024, a total of 433 Arab professionals took part in the activities and programs organized by the Training and Capacity Building Institute of the Arab Monetary Fund.

In September 2024, the Arab Monetary Fund organized 13 training courses in addition to a workshop as part of its ongoing mission to promote economic and financial stability, while enhancing the knowledge and skills of Arab professionals in various fields that support economic growth and sustainable development.
 

Launching the Comprehensive Instant Digital Payments Initiative in Arab Countries

In collaboration with the Bill & Melinda Gates Foundation, Dr. Fahd M. Al-Turki, Director General Chairman of the Board, inaugurates the workshop for the launch of the Inclusive Instant Digital Payments Initiative today at the Fund's headquarters, in line with the Fund's strategic directions for capacity development and technical support to help enhance sustainable growth and build financial stability.

Arab Monetary Fund, Bahrain FinTech Bay reinforce their cooperation to Drive Financial Innovation in the Arab region through knowledge sharing and skills development

Arab Monetary Fund, Bahrain FinTech Bay
reinforce their cooperation to Drive Financial Innovation in the Arab region through knowledge sharing and skills development.

Dubai, UAE – The Arab Monetary Fund (AMF) and Bahrain FinTech Bay (BFB) today took steps to strengthen their partnership, by signing a Memorandum of Understanding (MOU) on the sidelines of Dubai Fintech Summit and the AMF Fintech events in Dubai, UAE. Under the MOU, the two institutions establish a comprehensive framework for collaboration, spanning various critical areas, and how best to leverage their respective comparative advantages to address their shared vision towards building a robust and agile fintech ecosystem and making digital financial services work for financial inclusion and stability across the Arab region. The (MOU) was signed by the HE Fahad Alturki, PhD, Director General Chairman of the Board of the Arab Monetary Fund and Mr. Bader Sater, the Chief Executive Officer of Bahrain FinTech Bay.

Arab Monetary Fund, Dubai International Financial Centre join forces to support financial development in the Arab region through technical advice and capacity development

Arab Monetary Fund, Dubai International Financial Centre join forces to support financial development in the Arab region through technical advice and capacity development.

Dubai, UAE – The Arab Monetary Fund (AMF) and Dubai International Financial Centre (DIFC), the leading global financial hub in the MEASA region, strengthen their partnership by signing a Memorandum of Understanding (MOU) on the sidelines of Dubai FinTech Summit and the AMF Fintech events in Dubai, UAE. The agreement reaffirms the importance of collaboration and how best to leverage their respective core competencies and comparative advantages in driving financial sector development in the region, through the best use of the new technologies. The MOU was signed by the His Excellency Fahad Alturki, PhD, Director General Chairman of the Board of the Arab Monetary Fund (AMF) and His Excellency Essa Kazim, Governor, Dubai International Financial Centre (DIFC).

The Secretariat of the Council of Arab Central Banks and Monetary Authorities’ Governors Arab Day for Financial Inclusion - April 26th, 2024 Under the overarching theme: “Encouraging Saving to Enhance Financial Inclusion”

The issue of financial inclusion receives great attention from the Council of Arab Central Banks and Monetary Authorities’ Governors, in recognition of the potential and significant opportunities that can be achieved by enhancing access to financial services in Arab countries to support inclusive and sustainable economic development.

Hence, the authorities in the Arab region have given special attention to encouraging saving, by supporting the development of new saving products that suit the needs of individuals, improving the financial infrastructure, and expanding the reach of financial services to all community categories through digital financial services, which contributes to inclusive and sustainable economic development.

Accordingly, the 2024 Arab Day for Financial Inclusion is celebrated under the theme “Encouraging Saving to Enhance Financial Inclusion”. In this context, it is important for the authorities to establish regulatory frameworks that provide fairness and protection for the saver in a way that enhances saving, and for the financial and banking sector to take the initiative to enhance the culture of saving and raise awareness of its importance in enhancing the financial independence of individuals, and to develop innovative financial products that suit the needs of all community categories and encourage them to save.